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Tuesday 21.11.2017 | Name days: Andis, Zeltīte

Latvia U-turns on «farmer-maddening» vehicle insurance amendments

The ruling coalition of the Latvian Saeima will reject government-backed amendments which would oblige owners to buy compulsory motor vehicle civil liability insurance for vehicles used off public roads, for example, used in farming.

Google finds Russian advertising campaign around U.S. election, media report

Internet giant Google has discovered evidence of Russian agents spending large sums of money in attempts to affect the 2016 U.S. presidential election, media wrote.

Expert: Reduced VAT rate on fruit and vegetables to have economic effect

The Latvian government has decided to lower VAT rate on fresh vegetables, fruit and berries to 5%, triggering an active discussion on possible effects of the decision among professionals and consumers. Commercial director of retailer Elvi Latvija has voiced her opinion.

Week in Lithuania. Lithuanian, German ministers sign agreement on 1918 Independence Act

The foreign ministers of Lithuania and Germany signed in Berlin on Thursday, October 5, an agreement on handover of the February 16, 1918 Independence Act to Lithuania for five years.

EC orders Amazon to pay 250 million euros after receiving unfair tax deal

The European Commission has ruled that the U.S. e-commerce giant Amazon has received large, unfair tax discounts in Luxembourg, while other businesses have not been granted such tax advantages.

Latvian farmers oppose the need to buy insurance for vehicle, if it's not used on road

Latvian farmers are opposed to the requirement backed by the Latvian government for owners to buy compulsory motor vehicle civil liability insurance also for vehicles that are not used in road traffic, says the board chairman of the Latvian Agricultural Organization Cooperation Council, Edgars Treibergs.

Single elderly households are poorest in Latvia

Among Latvian households, the lowest income has been observed in the households of single and elderly people, who are aged 65 or older, Latvian statisticians have estimated.

Estonian cooperative bank Coop Pank starts operations

Estonian Krediidipank has been from Monday, October 2, rebranded to Coop Pank reflecting the principles of operation of its largest owner – a group of cooperatives.

Estonia, trading CO2 pollution quotas, made 25 million euros in 2016

As part of the EU emissions trading system in 2016, Estonia earned over 23.5 million euros from selling in auction its unnecessary greenhouse gas emission units, the Baltic country’s Minister of the Environment has stated.

Google submits to EK pressure not to distort competition

Google has announced its search engine would not privilege its own shopping service over rivals in an push to avoid further fines from the European Commission fines, after the U.S. tech giant was punished by a record antitrust fine of 2.4bn euros in June.

Latvenergo enters Estonia’s gas market

Latvenergo’s energy trading company in Estonia – Elektrum Eesti – has commenced selling natural gas to business clients, as confirmed by the company.

Oil prices grow in New York but decline in London

Exchange indexes in USA and Europe increased after US President Donald Trump unveiled his tax reform plan on Wednesday, 27 September. The president’s tax plan provides for reducing corporate income tax rate from 35% to 20% and offering tax discounts for companies to ensure their profits return to USA from abroad.

EC fines Scania with 880 million euros for price fixing with rivals

Swedish truck and bus maker Scania has been fined 880m euros by the European Commission for cooperating with five other truck-factories to fix prices and avoid emissions costs.

Entrepreneur: Tokyo City case symbolizes a much more serious problem

It has become known recently that State Revenue Service’s Finance Police commenced a criminal process in relation to envelope wages and tax avoidance at Tokyo City restaurant network. However, this case is not as much about the company as it is about the possibility of such situations repeating, says entrepreneur and Jurmala airport board member Zane Driņķe.

Estonia wishes to attract 500 foreign ICT specialists in 2018

Estonian Minister of Entrepreneurship and Information Technology voiced government's plans to attract in 2018 no less than 500 foreigners, specialists in the information and communications technology field, to Estonia.

Latvijas Balzams not provided with CIT discount worth 4.24 million euros

On Tuesday, 26 September, Latvian Cabinet of Ministers decided to postpone the decision regarding the proposal to provide Latvijas Balzams with a corporate income tax discount worth EUR 4.24 million for the realization of a large investment project.

Programme: criminal process for Tokyo City envelope wages case commences

Following voiced suspicions regarding payment of envelope wages and tax avoidance at Tokyo City public catering company, Latvian State Revenue Service’s Finance Police has commenced a criminal process, as reported by LTV Aizliegtais paņēmiens programme with reference to unofficial information.

Estonian road carriers fear loss of competitiveness due to fuel excise hikes

Road logistics companies in Estonia dissatisfied with higher fuel duties considerably affecting their competitiveness in the region have turned to the Estonian parliament asking to find solutions to the situation.