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Government support aimed at mitigating economic impact of Covid-19 pandemic exceeds EUR 2 billion

20 March 2020

Latvia's government support aimed at mitigating the economic impact from the Covid-19 pandemic has exceeded EUR 2 billion, Finance Minister Janis Reirs (New Unity) told journalists Thursday. According to the minister's estimates, the government support, which was initially planned at EUR 1 billion has now surpassed EUR 2 billion already. The proposal to support the businesses idled by the coronavirus outbreak by financing employees' wages will cost between EUR 60 million and EUR 200 million, if it is decided to expand the number of sectors eligible for the support. ... Read more

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FICIL Affirms the Need for State Aid to Companies Affected by Covid-19

20 March 2020

The Foreign Investors' Council in Latvia Latvia's Government's efforts to limit the spread of Covid-19 has issued a statement expressing gratitute for the governments efforts to mitigate the spread of the virus, while affirming the need for state aid to companies that have been affected by the crisis.... Read more

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Special Offer from the Clarion Collection Hotel

19 March 2020

If you or your business needs a temporary office space or a place to stay during self-isolation or quarantine, read the message by the General Manager of the Clarion Collection Hotel Valdemārs by Nordic Choice about their offer to the NCCL member community.... Read more

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Support Available to Entrepreneurs in the Form of both Tax Solutions and Financial Mechanisms

18 March 2020

On Tuesday, March 17, Latvia's Cabinet of Ministers (CoM) resolved that for the prevention of consequences caused by COVID-19 in the social and entrepreneurial field it is necessary to act in four directions. The Ministry of Welfare is preparing proposals on how, during the COVID-19 pandemic, to provide in a solidary manner a fixed-term State aid to employers for the purposes of the payment of sick-leave certificates, performing this from the special budget funds. At the same time, tax solutions are also planned, as well as support to entrepreneurial activity in the form of financial mechanisms.... Read more

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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. ... Read more

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Government of Latvia preparing idling regulation to provide financial support to businesses

17 March 2020

The government of Latvia is currently at work on a idling regulation that could be used to provide financial assistance to those businesses whose operations are seriously suffering from the Covid-19 crisis, Prime Minister Krisjanis Karins told journalists following a coalition cooperation meeting on Monday. The regulation would serve as a government support instrument, helping affected businesses to survive the Covid-19 crisis.... Read more

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Legal Aspects of Conducting Business in Norway in Force Majeure Situation

17 March 2020

In response to the spread of COVID - 19, Norway has taken drastic measures in containing the pandemic. This is an unprecedented situation that has created a lot of uncertainty, creating many questions on how to fulfill contractual agreements with business partners and clients in Norway. Our member Hammervoll Pind Law Firm has put together an information package that you may find useful, if you are conducting business or have clients or partners in Norway.... Read more

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Cargo ship traffic at Riga port uninterrupted, precautionary measures in force

16 March 2020

The cargo ship traffic at the Riga port has not been interrupted but strict precautionary measures have been introduced, said Riga Freeport Administration spokeswoman Liene Ozola. She said that the Riga port continues work to ensure all cargo handling services. In the past three days 30 ships have been handled, reloading different cargos, including containers, timber, grain products and coal.... Read more

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The COVID-19 infection and the rights and duties of an employer

16 March 2020

In light of the state of emergency declared in the Republic of Latvia as a result of the spread of the COVID-19 infection, Ellex Klavins Law Firm has summarized the most essential issues to be considered by employers at this time. This summary is prepared on 16th March 2020, based on the Cabinet of Ministers Order on Declaring the State of Emergency (hereafter, the Order), during the period of time from 16th March till 14th April 2020. For full guidelines visit: https://www.ellex.lv/en/news-events/news/the-covid-19-infection-and-the-rights-and-duties-of-an-employer-/47593  ... Read more

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