Good for Business, Latvia, Legislation, Markets and Companies, Taxation

Photo: flcikr.com

Today, Latvenergo, Rimi Latvija, Arcers and four more companies – waste manager Getlini Eko, water supply, heating and garden goods wholesaler Akvedukts, biodiesel production and transshipment complex Bio-Venta, decorative paint and industrial coating distributor Tikkurila were congratulated by the Finance Ministry as the first companies to be included on the white list, writes LETA/Nozare.lv.

These companies and those that will join them in the future will be entitled to such privileges as faster repayment of value-added tax, simplified customs clearing procedures, they will also be provided with individual tax consultants and promptly notified about possible tax payment risks.

As reported, to be included on the white list, a given company will have its business operations and tax payments evaluated, and the company must not be subject to insolvency proceedings or the legal protection process. Company executives must not have the status of a suspect in a criminal case or have a criminal record.

Also evaluated will be the company's net turnover, the amount of tax payments into the state budget, the number of employees and the average gross salary in the company.

A special commission will evaluate companies' applications for inclusion on the white list. The white list is public, compiled by the Finance Ministry.