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Monday 21.10.2019 | Name days: Severīns, Urzula

Reduced VAT rate could be raised to 15 %

Next year the value added tax rate for medicinal products, public transport, books, hotel business and heating could be raised from the present 10% to 15% or even 21%.

Latvia Motor Insurers’ Bureau: car owners prefer reimbursements in cash

Along with the economic downturn the number of road traffic accident victims – vehicle owners – who prefer receiving indemnity in cash, not as insurer’s paid repair service, is growing, admitted the experts at Motor Insurers’ Bureau of Latvia.

Riga City Council opposition: Council prepares «festivities budget»

The Deputies of parties New Era and Citizens’ Union, which are representing the party association Unity at Riga City Council, are up in arms how Riga Municipality’s budget funds and previously accumulated means are carelessly and recklessly spent.

Liepaja businessman launders 140 million lats

A businessman from Liepāja has bought a private jet, boat and an exclusive Aston Martin car with funds acquired by evading taxes and laundering money, according to the State Revenue Service (SRS) data.

Foreign trade turnover increases by 7.7%

This year in September the total foreign trade turnover at current prices comprised 1008.3 million lats – by 7.7% or 71.7million lats more than a month ago, and by 30.5% or 235.6 million lats more than in September 2009, suggest the Central Statistical Bureau data.

GDP grows by 2.7%

During the third quarter of 2010, gross domestic product (GDP) volume at constant prices (according to seasonally unadjusted data) has increased by 2.7%, in comparison with the third quarter of 2009.

Latvia Finance Ministry: more consolidation expected, if budget is not adopted by late 2010

If 2011 budget is not adopted until the end of the year, more consolidation measures will be necessary next year than it is possible at the present moment, estimated the Ministry of Finance.

Expert: 2nd Tier pension scheme should be inherited

It was previously promised contributions to the 2nd Tier scheme will be at the extent of 4%. Now the previously made promises to one million workers have been broken. If in the long term the rate is less than 6%, then our future pensions will be lower, indicates the Director of Swedbank Investment Management Harijs Svarcs.