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Tax rise to mount household payments for gas by 14%

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Baltic news, News from Latvia, BNN-NEWS.COM, BNN-NEWS.RU

If the announced tax changes by the Cabinet of Ministers come into effect, households’ average monthly payment for gas will increase by 12 –14%, depending on the consumption, suggest AS Latvijas Gāze calculations.

According to the company’s estimates, with no changes in gas tariffs, the average monthly payment of households using gas in stoves will increase by 12% from 3.02 lats to 3.38 lats. While for households using gas for heating, it will grow by 14% from 62 lats to 70 lats.

Moreover, after revoking the reduced value added tax (VAT) rate from July 1, 2011 and introducing excise tax rate of 12 lats per 1000 cubic meters, the gas tariff for households using gas in stoves would rise from the current 0.48 lats per cubic meter, to 0.53 lats, while for households using gas for heating or consuming from 500 to 25 000 cubic meters per year, it would grow from 0.29 lats to 0.33 lats per cubic meter.

Tariffs for households are reviewed every six months; thus, starting from this year’s July 1 the total payments would be affected not only by tax but also by the tariff changes.

Tariffs for industrial clients are changing every month. It is expected that the excise tax will apply not only to households and businesses that produce heat, but also to electricity producers.

As reported, at a closed meeting on Tuesday, February 22, the government reached agreement on this year’s budget consolidation measures at the extent of 50 million lats. The bulk of the consolidation sum will be ensured by tax increases related to changes in VAT and excise duty on natural gas, tobacco and alcohol.

If the amendments take effect starting from July 1, 2011 the VAT rate for natural gas will surge from 12% to 22%.


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