Latvia, Legislation, LIVE RIGA, Taxation, Tourism
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VAT for tourist industry in Latvia may be reducted to 10%
Nina Kolyako, BC, Riga, 04.02.2010.
Print version
Print versionA bill of opposition deputies' amendments to the law "On Value Added Tax" was submitted today by Latvian Saeima to several committees for examination. The bill envisages reduction of the VAT rate for the tourist industry to 10%.
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New Era Chairman Dzintars Zakis today proposed not to include examination of the project to the day's agenda, as the Finance Minister was still examining the calculations of the predicted affects on the state budget. These will be ready next week, informs LETA.
Zakis pointed out that the prime minister has already expressed his support for the amendments; however, he made an appeal not to rush the examination of the bill.
The proposal to amend the law "On Value Added Tax" and reduce VAT for the tourist industry to only 10% was submitted by Latvia's First Party/Latvia's Way, and party leader, Riga Deputy Mayor Ainars Slesers, had expressed the view that this amendment will help the sector "survive and develop."
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