bnn.lv Latviski   bnn-news.com English   bnn-news.ru По-русски
Saturday 04.04.2020 | Name days: Valda, Herta, Ārvalda, Ārvalds
LatviaLatvia

Latvian government compiles all support measures for Covid-19-related damages in one law

FaceBook
Twitter
Draugiem
print
(No Ratings Yet)

support programme, support, businesses, Covid-19, Finance Ministry, coronavirus, businesses, State Revenue Service, VIDLatvia’s government has developed a unified legislative draft about threats to the state and prevention of consequences from coronavirus Covid-19, as reported by Finance Ministry.

The legislative draft mentions how the Cabinet of Ministry determines the industries in which emergency expenses have surfaced in the relation to the spread of Covid-19, the measures and support mechanisms applicable to them. The government may review and expand the list of industries affected by the crisis. It mentions that taxpayers from industries affected by the crisis have the right to apply for tax holidays.

Companies are able to request an extension of the repayment term for delayed tax payments that were previously extended in accordance with the Taxes and Duties Law if the delay was caused as a result of Covid-19. To receive it, taxpayers have to submit a motivated application no later than two months after the term or the law comes to force.

The Tax Administration has the right to divide repayment into terms or postpone repayment for up to three years from the day the application is submitted. Tax payments applied with extension for repayment will not be expanded with a penalty fee.

As for guarantees, conditions mention that the programme includes the possibility of providing support of up to EUR 100 million per every 10-15 million euros of risk coverage. The law also states that small and medium-sized businesses, large companies and those who ended up in difficulties prior to Covid-19 crisis are also eligible for support.

Guarantees are provided for existing commitments (investment loans, financial leasing).

Conditions to receive loans in situations of a crisis provide for supporting small, medium-sized and large companies that had not ended up in financial difficulties before Covid-19 crisis. The maximum permitted amount is EUR 1 million with a maximum repayment term of up to three years. The legislative draft also mentions that for the allocation of the loan there will be a reduced and subsidized rate, the ministry reports.

Support measures for all companies state that PIT payer may refrain from paying an advance payment for 2020 taxation period. The condition is applicable for advance payments from 1 January 2020 onward and they are voluntary, the ministry says.

Read also: Latvian government forms special group to support businesses and prevent Covid-19 damages

Between 1 April 2020 and 31 December 2020 VAT return policy will be governed by this law.

In a three-year period (2021-2023) the State Revenue Service (VID) is authorized to not make any negative decisions in regards to deepened cooperation programme participants if they are affected by the crisis created by Covid-19 and participants of the deepened cooperation programme are able to provide evidence of objective conditions of their problems, as provided by the support measures outlined in the law, the ministry reports.

Support measures for Covid-19 state of emergency also relieve alcohol used for the production of disinfectants from excise tax. VID is permitted to provide businesses with a special permit to perform storage operations and who manufacture alcohol with an excise tax discount of up to 90%.

These businesses have to inform VID about alcohol production commencement no later than one work day prior to commencement of the manufacturing process using EDS.

The legislative draft also includes Justice Ministry’s questions about delays with delays in civil liabilities. It also includes conditions for budget flexibility in order to quickly resolve the matter of funding allocation for industries affected by the crisis.

If employers working in the industries affected by the crisis do no employ workers or if the company is idle, the law provides for the Cabinet of Ministers to compensate idle workers’ wages up to 75% of the remuneration set by the Labour Law, but no more than EUR 700 per calendar month.


Leave a reply

airBaltic to cancel up to 50% of planned flights until November 2020

As the crisis caused by COVID-19 pandemic continues in Latvia, the country’s national airline airBaltic has decided to cancel nearly 50% of planned flights until November 2020, as reported by the airline’s representative Alise Briede.

Latvian government increases penalty for breach of COVID-19 restrictions

On Thursday, 3 April, Latvia’s Saeima approved amendments to the Latvian Code of Administrative Violations in the final reading. The new changes increase the fine for violation of epidemiological security requirements, as well as restrictions imposed for the duration of the state of emergency in the country.

Estonian government to help local governments with supplementary budget

The Estonian government has submitted to legislators a supplementary budget aimed at allocating to local governments 30 million euros and another 100 million to help continue economic activity in the country, Estonian public broadcaster ERR reports.

Home. Soap. Two metres – SPKC reminds residents of the main safety measures

COVID-19 coronavirus spreads through direct contact with an infected person through droplets when a person sneezes of coughs, or by touching surfaces the infected person had previously sneezed or coughed on.

Belarus rejects Lithuania’s worries about alleged hiding of COVID-19 data

Minsk has rejected the concern voiced by Lithuania that alleged inadequate reaction to the spread of COVID-19 in Belarus could turn the country into a hotspot, which endangers Lithuania, LRT reports.

COVID-19 pandemic and corruption risks. How can government and society defend against them?

During a state of emergency, it is important for the Saeima, Cabinet of Ministers, Crisis Management Council and other officials to make decisions quickly and ensure completion. However, in such a situation there is a risk of dishonest officials abusing their powers for personal gain, risking the quality of democracy.

First death from COVID-19 confirmed in Latvia

The first death from COVID-19 coronavirus has been found in Latvia, as reported by public media lsm.lv.

UN General Assembly calls for closer cooperation to contain pandemic

World’s nations in the UN General Assembly have unanimously passed a resolution confirming the unprecedented effects of COVID-19 and calling countries for increased cooperation, Qatari broadcaster Al Jazeera reports.

COVID-19 update in Baltics. 493 infection cases in Latvia, 696 in Lithuania, 961 in Estonia

The number of confirmed COVID-19 cases in Latvia has reached 493, increasing by 35 in the past day. Lithuania, meanwhile, reports 696 confirmed cases. According to the latest information from Estonia, the number of confirmed infection cases there has reached 858.

Budget revenue in Latvia approximately 7% behind plan in March

With the spread of COVID-19 crisis in March Latvia’s state budget revenue has dropped 7.2% behind the plan, according to unofficial information from LETA.

Global number of COVID-19 cases exceeds one million

Globally, the number of confirmed cases of COVID-19 has exceeded one million and the death toll related to the infectious disease is 52 500, German public broadcaster DW reports.

Latvia prohibits exports of medicines needed during state of emergency

Exports of medicines vital for the domestic market during state of emergency will be prohibited in Latvia, according to the order published in the Latvian Herald by Healthcare Minister Ilze Viņķele.

COVID-19 prompts Latvian government to involve army in border patrol with Belarus

Latvian Defence Minister Artis Pabriks has issued an order for Latvian National Armed Forces (NBS) to provide support to the State Border Guard by sending national guardsmen to organize additional patrolling of the Latvian-Belarusian border, as confirmed by the minister.

Lithuania puts COVID-19-related prosecution above human rights

What should come first in a time of emergency like the global coronavirus (COVID-19) pandemic? Obviously, order, but what about human rights?

Idleness rules will apply to companies with tax debts in Latvia

The idleness regulations in Latvia will apply to companies with tax debts, as provided by amendments to Latvian government rules approved on Thursday, 2 April, to rules on companies affected by COVID-19 and who qualify for idleness support and other benefits.

Court to enforce nearly 12 000 euros from Gobzems for defaming Bunkus family

Riga City Vidzeme Suburb Court has partially satisfied the plea from the surviving members of the family of the murdered lawyer Mārtiņš Bunkus against Saeima deputy Aldis Gobzems over defamation. The court has decided to enforce EUR 11 833 from him, as confirmed from the deputy.

Spain registers unprecedented job loss as lethal cases of COVID-19 exceed 10 000

In Spain, nearly 900,000 jobs have been lost since mid-March during strict measures to fight the coronavirus. 10,000 Spaniards have died from the virus disease, BBC reports.

Emīls Jakrins becomes board chairman of restaurant business company Vincents

Ex-Riga City Council’s Transport Department’s head Emīls Jakrins has become board chairman of architecture, design and restaurant business company LLC Vincents, according to information from Firmas.lv.

Jānis Vitenbergs approved in Latvia’s Economy Minister's post

On Thursday, 2 April, Latvia’s Saeima approved parliamentarian Jānis Vitenbergs as the country’s economy minister.

Large mine closes in Estonia after one of 800 miners tested positive for COVID-19

In Estonia, it has been decided to close one of two large oil shale mines after one miner tested positive for COVID-19, Estonian public broadcaster ERR reports.

COVID-19 update in Baltics. 458 cases in Latvia, 649 in Lithuania, 858 in Estonia

The number of confirmed COVID-19 infection cases in Latvia has reached 458, growing by 12 cases in the past day. Meanwhile, Lithuanian media report 649 confirmed coronavirus infection cases.

Germany to keep gathering restrictions past Easter

German Chancellor Angela Merkel has warned that the situation with the outbreak of COVID-19 in Germany is far from being over as the government extended its strict rules for gathering in public places until April 19, DW reports.

Shuttle buses and express buses on hold in Riga

LLC Rīgas mikroautobusu satiksme has decided to shut down shuttle bus services on all routes in Riga until the state of emergency in Latvia is over, as confirmed by RMS.

Latvian government to finance COVID-19 crisis prevention efforts from state budget

Efforts to overcome the direct negative effects from COVID-10 crisis will be financed from the state budget. After the crisis, however, the economy will be stimulated using EU funds, as decided by Finance Minister Jānis Reirs’ led work group for support of entrepreneurship and the employed on Wednesday, 1 April.

EU planning lending programme to support temporary work schemes

EU member states would guarantee the creation of a fund up to 100 billion euros aimed at providing loans to governments to support workers in countries hard hit by the coronavirus pandemic, the European Commission plans, according to EurActiv.


Do NOT follow this link or you will be banned from the site!