Proposed VAT reduction


Inflation continues to bite in many European countries. Latvia is no exception – and has been forced to address its fiscal operations considering this.

To this effect, the Latvian Parliament is considering a VAT reduction on basic foodstuff to 5%.

If passed in Parliament, this VAT reduction is expected to come into force on 1st July 2022 and last for some duration- until 30 June 2024.

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