Financial Services, Latvia, Legislation, LIVE RIGA, Taxation, Tourism

International Internet Magazine. Baltic States news & analytics Thursday, 30.05.2024, 21:58

Ruling coalition in Latvia approves reducing VAT rate for tourism sector

Nina Kolyako, BC, Riga, 16.03.2010.Print version
The ruling coalition parties in Latvia agreed yestedray that value-added tax rate for the tourism sector would be reduced from 21% to 10%.

Saeima will review the proposed amendment in the first reading in the near future already, writes LETA.


As reported, the People's Party succeeded last week, with the help of the opposition, in gaining theoretical support from the Saeima's Budget and Finance (Taxation) Committee for forwarding their amendment to the law "On Value Added Tax" (VAT) for review in the full Saeima. The amendment foresees the introduction of a reduced VAT rate for the tourism sector.

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