The executive branch of the Government of Latvia has approved draft legislation that will impede tax rates from being altered more than once a year.
The initiative will be included in amendments to the country’s Law on Taxes and Fees. The amendments will ascertain a 6 month gap between the period of tax changes being approved and their implementation and will introduce restrictions on the offering of tax relief measures. The changes will provide a more stable tax environment with greater certainty for businesses and investors.
