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Tuesday 23.01.2018 | Name days: Strauta, Grieta
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Latvia could restrict cash transactions above 3 000 lats

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RUAmendments to the law on taxes and duties to be reviewed this week in the state secretaries meeting provide restricting legal persons’ cash transactions above 3 000 lats.

Finance Ministry’s proposed amendments set cutting the sum of cash deals to be declared from 3 000 lats down to 1 000 lats and the sum of transactions that must not be carried out in cash from 10 000 lats to 3 000 lats.

Similalry, the amendments provide legal persons must declare their cash transactions carried out in a month before and exceeding 1 000 lats. The same applies to physical persons that are not registered in the State Revenue Service as economic operators.

The bill aims at boosting tax control and efficiency of administration in order to prevent tax evasion, according to the Finance Ministry.

It is also intended to extend the range of activities at which an economic operator’s business activities can be stopped due to not corresponding to the legal acts. Moreover, additional measures to restrict such activities will be taken, for example, annulling licenses and stopping transactions.

If the economic operator does not do away with the infringement in 15 days time, the State Revenue Service will be righteous to initiate liquidation process of the party, according to the law amendments.

These law amendments are forwarded for review together with amendments to the law on the State Revenue Service and Latvian Administrative Violations Code.


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  1. Linda says:

    Luckily, this does not concern me.

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