Tourist magazine to vanish from shelves2008-12-17
The magazine City Paper, which has been published for tourists visiting the Baltic countries for over 15 years, has been halted for six months because of Latvia’s continuing economic problems and the government’s emergency VAT plan, which includes a provision to increase the reduced VAT rate for publishing companies from 5 percent to 10 percent. Gene Zolotarev, chairman of Maximus Capital, is the sole owner of the title.
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