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Amendments on tax changes may come in March

2009-01-05

Inevitably, the 5th Latvian Tourism Forum organized  by the Latvian State Tourism Development Agency in cooperation with the European Parliament focused on Latvia’s controversial decision to sharply increase VAT from the New Year. Representatives of business said that the new regulations will enhance the development of the shadow economy, after years spent trying to get rid of it, in order to avoid bankruptcy. Economy Minister Kaspars Gerhards confessed that he voted against the taxation changes three times during parliamentary sessions and promised that amendments to the new regulations would be adopted in March.

 

Chas, 2008-12-19

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