2010.11.20 09:36 |
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RIGA, Nov 19 (LETA) - The Cabinet of Ministers decided today that standard value added tax rate would be increased to 22 percent, whereas property tax rate for apartments and private homes would be doubled. Prime Minister Valdis Dombrovskis (New Era) said after the government meeting that the reduced VAT rate would also be increased, from 10 percent to 12 percent, whereas reduced VAT rate on electricity would be lifted altogether. According to the Finance Ministry's estimates, increasing the VAT rates would bring in an additional LVL 68 million in the budget, whereas higher property tax - an extra LVL 6.9 million. LETA Copyright © LETA |