5 pct VAT rate required for food in Latvia

So that Latvian-produced food does not become one of the most expensive in the EU, both producers and traders ask for a VAT cut, suggesting the rate should fall to 5 pct, Dienas Bizness reports.

The Ministry of Finance points out that any tax changes must be estimated in the context of state budget.

Aina Rozenberga, director of SIA Spare, says: “The reduction of VAT rate would allow to raise competitiveness and reduce production costs.”

Source: BBN

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