_NEWS_PRINTED<br>http://www.dcc.lv/?ct=news&fu=read&id=51<h3>Taxes could be reduced in 2013 - Dombrovskis</h3><p>Anton<br>2011.03.21 10:26
</p>RIGA, March 21 (NOZARE.LV) - Taxes in Latvia could be reduced in 2013, Prime Minister Valdis Dombrovskis (Unity) says in an interview with the newspaper "Biznes&Baltija".

Dombrovskis points out that in 2012 Latvia must meet Maastricht criteria, which envisage that budget deficit must not exceed three percent of gross domestic product, therefore no tax reductions are planned.

"2012 budget will be the last one to be consolidated. Stimulating measures will be carried out already in 2013," said Dombrovskis.

<p><P>Dombrovskis emphasized that in 2013 the tax burden will be moved from labor onto consumption and property. Therefore personal income tax and tax-exempt minimum will be increased.</P>
<P>The prime minister also pointed out that currently budget consolidation is mostly (two-thirds) carried out by reducing expenditures or (one-third) - increasing revenue.</P>
<P>Commenting the current situation with pensions, Dombrovskis said that Welfare Ministry is working on proposals on stabilizing the social budget. "We will not be able to ignore the problem of pensions," emphasized premier.</P>
<P>Dombrovskis predicted that the debate on pensions will become more constructive after receiving experts' evaluation.</P>
<P>Dombrovskis also pointed out that the revenue from possible privatization of companies belonging to the government will not affect budget deficit. The revenue will be transferred into a special fund for stimulating the business activity.</P>
<P>At the moment, the government considers selling "Citadele" bank and its shares in the telecommunications companies "Lattelecom" and "Latvijas Mobilais telefons".</P>
<DIV id=ItemSources>Nozare.lv<BR>21.03.2011</DIV>
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