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Sunday 18.03.2018 | Name days: Ilona, Adelīna

Estonian fund permitted to purchase several Latvia energy production companies

Latvian Competition Council has permitted Estonian fund to purchase several energy production and agricultural companies.

Meat processing giant sees room for growth in ready-to-eat foods

Consumption in the meat market segment of ready-to-eat foods is growing quickly, evaluated Finnish meat processing group HKScan that is planning to invest eight million euros in its factory in Estonia.

Tax payment process from capital growth to change in Latvia

As part of the tax reform, changes will be added to the Personal Income Tax Law starting from 1 January 2018. One of the changes is associated with payment and declaration of income from capital growth. The tax rate and the term for submission of declarations on income from capital growth will change next year.

Riga City Council’s 2018 budget – poorly planned or well-developed?

As the vote for the 2018 budget of Riga City Council draws near, representatives of all opposition parties say they will not support it as long as politicians of the ruling coalition continue viewing the city’s most important financial document as good and aimed at development.

Weekends in Latvia expected to be snowy

A layer of snow will form in Latvia’s central and western regions that will remain until the middle of next week, as reported by State Environment, Geology and Meteorology Centre.

Latvian parliament views initiative for changing VAT rate for food product

On Thursday, 14 December, Latvia’s Saeima made its decision on the collective application that proposes reducing VAT on everyday healthy food products and increasing VAT on unhealthy products.

Civil processes to be sped up and simplified in Latvia

On Thursday, 14 December, Saeima supported amendments to the Civil Process Law in the final reading. Amendments propose several major changes to the process of review of civil processes to make court sessions quicker and more efficient.

Aldaris commences exports to France, China and Netherlands

Aldaris concludes 2017 with three new export contracts, commencing exports of products to China, France and Netherlands. Until now Aldaris has exported products to eight markets, with the largest one being United Kingdom, taking up 78.71% from Aldaris export volume, as reported by the company.

Estonian budget passed with 0.25 billion-euro deficit

The Estonian Riigikogu with 55 votes against 41 has passed the country’s 2018 state budget bill planning to spend by 0.25 billion more than it is planned to earn.

AFSAL: loan requests in non-banking industry are declined in 69% of all cases

In the first six months of 2017 Alternative Financial Services Association of Latvia (AFSAL) issued a total amount of EUR 84.7 million in consumer loans. No increase is noted in this amount when compared with the same period of 2016. Increase did not exceed 0.2%, as reported by the association.

European Parliament supports changes for combating activities detailed in Panama Papers

Public registries with names of true owners of businesses, effective protection of whistle-blowers and stricter requirements for financial intermediaries are some of the proposals intended to assist with the fight against tax avoidance, as noted by members of the European Parliament.

FM mentions progress in combating grey economy; prime minister expects more

Latvia will continue combating grey economy in construction field and fight envelope wages, said Latvian Finance Minister Dana Reizniece-Ozola during the ministry’s Taxpayer Forum 2017 organized by the ministry on Wednesday, 13 December.

Croat soldier dies in Lithuania barracks

A soldier from the Croat contingent in Lithuania, who served in the Rukla military town as part of NATO international forces, has passed away.

LMP President: proposal for LMT and Lattelecom merge was only politically discussed

Only political discussions were held proposal on the merge between Latvijas Mobilais Telefons and Lattelecom, and it is good that this matter has been taken off the agenda, said LMT President Juris Binde in an interview to Rīta Panorāma programme of LNT.

Survey: 55% of employed people are not paid for overtime

More than half of employed people work overtime. On top of that, 55% of them are not paid for working overtime and 45% are paid, according to results of a survey performed by CV Market.

Estonian military receives anti-tank missiles, bought with U.S. funding

The Estonian military has acquired another lot of missiles for the American-made man-portable Javelin antitank system bought with U.S. money allocated for supporting European defence measures.

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