Friday, the 12th of August, 2005
Authorities promise to put an end to fictive companies
The Latvian State Revenue Service plans to initiate amendments to some laws in order to put an end to fictive companies, which number reached 400. As of now, the authorities cannot fight effectively against them. This is why State Revenue Service offers to ban registering companies using the power of attorney, to punish those who are involved in creating these enterprises or collaborating with them, to publish the lists of fictive companies and to exclude the fictive firms out of the tax payers register faster than it is done now. However, these measures could also make the life of honest businessmen more complicated.
Biznes & Baltija
Thursday, the 11th of August, 2005
State promises export guarantees
The state is going to support exporters by reducing risk deals with foreign purchasers, which will promote Latvian export to the states outside the EU. According to the new draft law on guarantees for export credits, the guarantees should cover commercial risks and give opportunity for the companies to acquire new markets without using their own finances and to increase the competitiveness. In other EU member-states this state support instrument is already available.
Wednesday, the 10th of August, 2005
Lions share to industry
Latvian Investments and Development Agency received 264 projects for attracting the EU structural funds, EUR 67.85 million. This is 59% from the total financial support for 2004-2006. 116 projects were submitted for consulting and participation in international exhibitions, however, the largest sum, EUR 63.63 million, was demanded in companies infrastructures modernization.
Tuesday, the 9th of August, 2005
Inflation slows down, but affects pensioners and families most of all
Even though in July 2005 the inflation speed reduced to 6.1%, experts believe that it is not a signal for the stabilization of inflation. Among the sectors, where the inflation was the highest, are transport, medicine, education and food. The inflation affects most of all pensioners, students and families with small children. It means that more than 30% of the population in Latvia experience higher inflation than calculated by specialists.
Monday, the 8th of August, 2005
Predominance of petrol
In the first six months of the current year the retail trade turnover in Latvia increased by 20.6% in comparison with the same period of 2004. The increase is more significant than in previous years. The turnover of petrol retail trade increased most of all, by 43.5% according to the data of the Central Statistical Bureau. The second biggest increase was in textile and clothes sector, by 33.8%.
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