Latvia, Legislation, Markets and Companies, Taxation, Technology

International Internet Magazine. Baltic States news & analytics Saturday, 15.08.2020, 10:04

Online petition urging tax exemptions for small businesses launched in Latvia

BC, Riga, 30.07.2020.Print version
A petition calling for tax exemptions for small businesses has been launched on the public initiatives' website Manabalss.lv, cites LETA.

Valdis Licis, a representative of the initiative, argues that small law-abiding enterprises have to be allowed to grow until their turnover is large enough for paying taxes. 


The author of the petition believes that Latvia should follow the UK's example and stop taxing businesses whose annual turnover is smaller than EUR 12,000. The petition also proposes tax exemptions for microenterprises whose turnover is smaller than five employees' salaries plus indispensable costs like utility bills, security, internet services, etc. 


In Licis' opinion, the main tax burden should be put on stable enterprises that are able to meet the tax payments without risking their existence. The support and protection of small businesses would promote the emergence of large companies, able to generate tax revenue in the long term, the author of the initiative believes. 






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