April' 2015 | Archive | Blog
The Latvian Parliament, Saemia, voted to maintain the small business tax relief and to review the eligibility criteria. The relief applies to small companies in Latvia and consists in a 9% corporate tax for the first three years from the incorporation.
According to the Central Statistical Bureau (CSB), the unemployment rate in Latvia in 2014 reached 10.8% decreasing by 1.1% compared to 2013. About 108,000 Latvian citizens aged between 15 and 74 years were unemployed compared to the 128,000 individuals with no employment in 2013.
At the end of March, Latvia signed an agreement with the European Investment Bank for the allocation of a 200 million euros loan. The funds will be directed towards co-financed projects that would have usually been funded by the European Union. This loan will provide financial assistance to Latvian enterprises.