04.28.22

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 1^st July 2022 and last for some duration- until 30 June 2024.