Latvia: Higher excise tax on alcohol backed at Saeima committee

The Budget and Finance (Taxation) Committee of the Latvian Saeima on Wednesday passed for reviewing in the final reading in the Saeima amendments in the Excise Tax law aimed at raising the excise on alcohol from August 1, Baltic News Network reports.

Chairman of the committee Kārlis Šadurskis had noted previously that the committee decided to raise the excise tax this year alone and, taking into account the position of the industry, the new tax rate will come into effect from August.

Further tax changes, which were initially also planned to take place in 2016 and 2017 might be decided upon, during the drafting of the next year’s budget.

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