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WEEK 47th 2004

Wednesday, the 17th of November, 2004

Insurance to become more expensive
The researches made by some of Latvian insurers show the possibility of health insurance policies to become more expensive next year. Their price could grow by 15-20%. According to some insurers, it could even increase by 20-22%. This may happen due to the growth of patient’s payments and VAT applied to medicine.
Dienas Bizness

Make bureaucracy simpler
Latvian government made amendments to regulations considering the documents for excise goods. Now the entrepreneurs can make operations with the excise goods without waiting for State Revenue Service to approve the third copy of their accompanying documents, which was obligatory earlier.
Kommersant Baltic Daily

Tuesday, the 16th of November 2004

Gap for billion
In January-September of the current year the value of import significantly exceeded export, by EUR 1.729 billion. During nine months of 2004 Latvia exported goods for EUR 2.253 billion, which is by 26.2% more than in the same period of 2003. Timber and wooden products keep the first place in the export structure occupying 32.8% of it. Metal goods are on the second place, 13.5%, and textile on the third place, 10.9%. Latvian producers of clothes and footwear were the most active, as they exported by 68.9% of goods more than in the same period of 2003. However, the importers sold to Latvia goods for EUR 3.983 billion, by 24.9% more than in nine months of the previous year. The most popular goods were machines and mechanisms, mineral products and transport. The biggest increase was in wood products import, by 73.7%. The main export partners of Latvia were Great Britain, Germany, Sweden and Lithuania, the main import partners Lithuania, Sweden and Germany.
Bizness & Baltija

Monday, the 15th of November 2004

43% of enterprises have to pay higher tax
According to Lursoft IT data, more than 60,000 unlimited liability companies or 43% of Latvian enterprises, which have not been liquidated, have to pay higher corporate income tax than capital companies, 25% and 15% accordingly. However, these indexes refer to the firms, which began their insolvency process or have not finished their liquidation. One of the most popular forms of business activity structures in Latvia is individual businessman due to the simple process of its registration and business accounting. However, individual businessmen have to pay higher taxes in comparison with individual enterprises. The head of Lursoft IT board, Ainars Bruvelis, thinks that the state has to define the same income tax rate for all kinds of business structures. It would be real state’s help to the companies.
Dienas Bizness

State Revenue Service: more than half a billion of taxes
In January-October 2004 State Revenue Service collected taxes, which amount to EUR 2.539 billion. This is by 15.4% more than in the same period of the previous year. In first ten month of the current year collected VAT constituted EUR 583.5 million, excise tax EUR 278.9 million and corporate income tax EUR 155.9 million. The most profitable sphere in tax collecting was gambling games, which brought to State Treasury EUR 9.2 million. In October of the current year EUR 272.9 million of taxes were collected, by 14.5% more than in October 2003.
Kommersant Baltic Daily

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