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Friday 22.06.2018 | Name days: Ludmila, Laimdots, Laimiņš

Tax rise boosts shadow economy

Tax rise will not help combat the shadow economy, because it is exactly taxes that boost it, both local businessmen and foreign investors say.

Court orders Baltkom to pay Lattelecom 77 000 lats

Administrative Court has dismissed Baltkom 's complaint against the Public Utilities Commission's decision providing that Lattelecom tariffs of number portability approach costs, thus Baltkom is ordered to pay the company Lattelecom 77 000 lats.

Study: businessmen neither trust government, nor fear avoiding taxes

Previous studies in various countries have revealed that there are two main reasons for tax evasion - risks to be caught and attitude towards the specific country, according to Stockholm School of Economics in Riga observations.

Estonian alcohol producers sold more on the domestic market

Estonian producers sold 0.59 million liters of hard alcohol on the domestic market in January, a 61 percent increase compared to the same month of last year, according to data from the Alcohol Producers' Association.

Foreign investor interest in Estonia picking up again

Foreign investor interest in Estonia is growing again - over 100 foreign investment projects are currently being processed by Enterprise Estonia, which is much more than in the two previous years put together.

Chairman of the Board of Lithuania Bank resigns

The current Chairman of the Board of the Lithuanian Bank, Reinoldijus Šarkinas has tendered his resignation to be effective 15 April. Šarkinas has reached the end of his five year term, and in fact Seimas had to ratify an extension until 15 April as it was a few months more than the specified five years.

Binders leaves Estonia

The Latvian road construction company Binders is forced to leave the Estonian market and break the concluded contract in 2009 with the Estonian Road Department on Pärnu bypass construction.

Excise not boosting tax revenue

Despite new excise duty rates for alcohol have been climbing during the past three years, the excise tax revenue keeps dropping. Estimates show excise has climbed 40% in two years time. Thus tax revenue should have been growing.

Experts: Latvia has no ICT aims

Latvia has not defined clear aims in the information and communication technology (ICT) sector. The fierce competition and shrinking orders have added to businessmen having to make more effort to carry out projects and see whether their are capable of introducing them successfully.

Agriculture Minister: not all Latvian exporters are able to fulfil agreements

Not all of the export companies in Latvia manage to meet the stipulated product supplies, the Agriculture Minister Jānis Dūklavs indicates at the Agricultural Organization Cooperation Council’s meeting.

Marupe Agricultural Centre applies for insolvency

The poultry company Marupe Agricultural Centre has applied for insolvency, mentioning the difficult economic situation as the reason, the Centre’s Board Member Kārlis Krastiņš points out.

Taxi wars also in Liepaja

Taxi companies interests have clashed also in Liepaja, similarly as two years ago in Riga. Local taxi services providers have already divided their territories, which is against the law. Moreover, they do not intend to let their competitors enter them. A fight has brought the conflict to the Court already.

Riga Dairy to focus on Russian market

Riga Dairy (A/S Rīgas piena kombināts) turned 53 million lats last year, surpassing the performance of 2009 by 12 million lats. The company explains this by growing exports, amounting to 22% of the total turnover, Riga Dairy public relations manager Irēna Bērziņa told the business news portal BNN.

President of Lithuania seeks to break heating monopoly

The president of Lithuania Dalia Grybauskaitea has pressed lawmakers to break the monopoly of the heat supply market, simplifying the terms of abuse of a dominant market position as well as increasing penalties.

Foundation: LNG projects in Latvia and Lithuania can be mutually compatible

Projects of liquefied natural gas (LNG) reception terminal with a re-gasification plant can break Gazprom’s monopoly in the three Baltic States and Poland, creating a competitive regional market through supply diversification and mutual interconnection.