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15.11.2026. 17:58:09
The Latvian government, acknowledging that high taxes are having a stifling effect on the country’s economy, on May 15 agreed that the value added tax rate would be reduced one percentage point on July 1 this year, dropping it from the current 22 percent to 21 percent, whereas the personal income tax will be reduced five percentage points over the next three years, from the current 25 percent to 20 percent, reports Nozare.lv.
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