Financial Services, Latvia, Legislation, Markets and Companies, Taxation

International Internet Magazine. Baltic States news & analytics Thursday, 24.09.2020, 04:52

Over 44,500 business operators pay micro enterprise tax in Latvia in early July

BC, Riga, 04.07.2017.Print version
There were 44,574 business operators registered as payers of micro enterprise tax in Latvia in early July 2017, and 40,562 entities have been removed from the list, according to the statistics of the Latvian State Revenue Service (VID), cites LETA.

From September 1, 2010, when the micro enterprise tax was introduced in Latvia, till July 1, 2017, Latvian authorities have received a total of 88,464 applications from tax payers seeking the status of micro enterprise tax payers but some of those applications were rejected.

 

At the beginning of this year the microenterprise tax rate was raised to 15%, while for companies with an annual turnover below EUR 7,000 the tax rate is 12%. In the future it is planned to write a new law about taxation of small companies.






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