Latvia to compensate some VAT losses for hotels


The Latvian government has decided to compnsate for losses caused by the introduction of a much higher Value Added Tax rate, which incresed from 5 percent to 21 percent, effective from 1 January 2009. Hotels will be able to claim compensation for contracts signed in 2008 that were in reference to the year 2009.


Biznes.LV, 2009-01-26

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