Latvia, Markets and Companies, Taxation
International Internet Magazine. Baltic States news & analytics
Thursday, 25.04.2024, 19:41
42,101 business operators pay micro enterprise tax in Latvia in early January
From September 1, 2010, when the micro enterprise tax was
introduced in Latvia, till January 1, 2019, Latvian authorities have received a
total of 100,649 applications from tax payers seeking the status of micro
enterprise tax payers.
Compared to December 2018, the number of micro enterprise
tax payers decreased by 2,165.
48,462 applications were submitted by corporate entities,
48,585 applications were from individuals and 3,602 applications were filed by
individual business operators.
Applications for the status of micro enterprise tax payers
were approved in case of 46,404 corporate entities, 46,804 individuals and
3,487 individual business operators.
At the same time, 1,692 applications from corporate
entities, 987 applications from individuals and 78 applications from individual
business operators were rejected.
As reported, the Latvian parliament in July 2017 adopted
amendments to the Law on Micro Enterprise Tax under which micro enterprises
with annual turnover below EUR 40,000 will be paying a 15 percent tax, starting
from this year, and the 20 percent tax will be applied to the turnover in
excess of EUR 40,000 with special rules applying during the transition period
in 2018 and 2019.