Companies to be entitled to tax holidays for up to three years

17 March 2020

In order to ensure support to businesses in Latvia, it is planned to provide tax holidays for a period of up to three years, said Latvia's Finance Minister Janis Reirs after the meeting of the work group, discussing support to businesses in dealing with economic consequences from the outbreak of Covid-19. 

The work group held a meeting today and discussed three issues - on tax holidays, government-paid sick leaves and Altum credit guarantee program. State Revenue Service (VID) general director Ieva Jaunzeme said that at present the law provides for a possibility for tax holidays for up to one year, but amendments will be introduce to extend this period to three years. Terms for the tax holidays will remain unchanged, said Jaunzeme. VID will assess the history of tax payments, and each application will be reviewed individually.
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