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Ceturtdiena 18.10.2018 | Name days: Rolanda, Rolands, Ronalds, Erlends
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Economy Minister: it is unacceptable to perform rapid changes to MET

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RULatvia’s Economy Ministry calls to set the micro-enterprises tax rate limit within 9%-12%, having it differentiated based on turnover and keeping the current turnover criteria in play (LVL 70,000). The same applies to the maximum salary of employees (LVL 500) and total number (5).

Proposals have been developed for amendments to MET, so that matters regarding social insurance of micro-enterprise workers can be resolved. Micro-enterprises will still be able to develop, Economy Ministry reports.

Pavluts’ institution has prepared a proposal for amendments to MET that provide for keeping the 9% turnover rate for entrepreneurs whose turnover is below EUR 15,000, 10% for companies with turnover below EUR 40,000, 11% for companies with turnover below EUR 70,000 and 12% for companies with turnover below EUR 100,000. In order to encourage emerging companies and motivate them to develop, it is proposed to maintain tax rates only for a total of five years. In order to prevent a situation when the same owners found a different micro-enterprise, it is proposed to have the five-year restriction apply to owners and Board members.

“In order to contribute to the formation of new micro-enterprises and help them develop, it would be best to avoid changing too many things in MET. Changes should be performed gradually. The entire process needs to be discussed in detail prior to taking actions of any kind. Given the coalition’s agreement to solve these problems, EM has developed proposals for possible amendments to MET in order to improve general environment for micro-enterprises and encourage the creation of new ones. It is also equally important to discuss changes to MET system that could potentially limit entrepreneurs’ ability to use tax optimization plans and reducing the general bureaucratic burden for micro-enterprises,” – says Pavluts.

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