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Latvia Business News: Archive 2003-2006

WEEK 36.2006

Friday, 8th of September 2006

Reducing of tax has been firmly supported
The Latvian Parli ament accepted the proposal to begin gradual decreasing of the inhabitants’ income tax starting from January 1, 2007. It is planned to reduce the inhabitants’ income tax from the present 25 per cent to 15 per cent during the next three years. However, the Latvian state institutions have made informal agreement to increase the minimal monthly salary up to EUR 170, but not to reduce the inhabitants’ income tax rate. The disputable events have been explained with the approaching elections of the Latvian Parliament.
Dienas Bizness

Europe will increase minimal excise fee for beer and alcohol
According to the directives of the European Union, starting from 2008 the excise fee for beer and alcohol needs to be 31 per cent in all the member states of the European Union. Latvia is one of the European countries, which will be requested to increase the excise fee. Last time the prices of beer and alcohol increased was in January 2006, since the excise fee had to be increased by 14.5 per cent.

Wednesday, 6th of September 2006

Latvian business has increased by seven marks
The World Bank’s and the International Finance Corporation’s annual global project Doing Business published the research on the environment for business conduction in 175 countries. According to the research Latvia’s rating increased by seven marks: in 2005 Latvia was in 31st place, but in 2006 Latvia is rated in 24th place. Particularly, Latvia has been complemented on the decision to abdicate from obligatory license to do construction works, which enables to conduct business a lot easier and faster.

Monday, 4th of September 2006

Salaries have increased by 21.7 % in Latvia!
According to the Central Statistical Bureau, in Latvia in the second quarter of 2006 the average monthly net salary was EUR 297, which is by 21.7 per cent more compared to the same period of the previous year. The average monthly gross salary was EUR 417, which is by 21.8 per cent more that last year.
Vesti Segodnja

Non-residents are leaving internet-banks?
According to the statistics of the Bank of Latvia, in Latvia, in the first half of 2006, compared to the same period of previous year, the amount of transfers through internet-banks decreased by 2.1 per cent, which amounts to EUR 1.986 milliard. Specialists of the Bank of Latvia think that this has happened due to the decrease of transactions by non-residents of Latvia.
Bizness & Baltija

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