Baltic States – CIS, Financial Services, Latvia, Legislation, Markets and Companies, Taxation

In order for these companies to stabilize their solvency, the government decided to extend the term for tax payments for up to five years.

In order to support tax payers, who had to face financial difficulties due to Russia's sanctions, the government stipulated a regulation on granting tax-payment extensions, allowing those tax payers who export more than 10% of their output to Russia, to receive a tax-payment extension up to five years.

Furthermore, such criterion will be applicable on other tax payers also, whose business activities are connected with the production and export of products that are now on Russia's blacklist.

The government also decided to grant tax administration rights to decide on missed tax payments, namely, the term of payment can be extended according to a contract on disputeless tax recovery.