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Latvian parliament endorses tax initiatives

Xinhua, December 16, 2016 Adjust font size:

Latvian lawmakers on Thursday passed the government's proposal to raise the microenterprise tax rate, from the current 9 percent to 15 percent, and scrap the plan to introduce mandatory minimum social security contributions, local media reported.

The amendments to the law on microenterprise tax were passed by 59 votes to 6, with 20 lawmakers of the ruling center-right Unity party abstaining.

It was also decided to push the draft legislation through the parliament in a fast-track procedure. The second and final reading of the draft amendments has been scheduled for Dec. 20.

The first reading of the much-disputed amendments was held after Latvia's tripartite center-right coalition failed to reach unanimity on the prime minister's proposals.

Under the previous plan, which was adopted in 2015, all working people in Latvia, including part-time employees and those earning less than the minimum wage, would be required to pay 97 euro a month in mandatory minimum social security contributions from 2017, while the microenterprise tax would remain at 9 percent next year. Endit