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Reduced VAT on fresh fruits, berries and vegetables gains government backing

The Latvian government has supported the introduction of a reduced value-added tax (VAT) on fresh fruit, berries and vegetables, the Latvian Ministry of Agriculture announced on Tuesday, October 3.
 

The proposed amendments to the Latvian VAT law set forth lowering to 5% the tax rate on fresh fruit, berries, vegetables that are characteristic to Latvia and on potatoes.
 

The new rate would apply to washed, peeled, shelled, cut and packaged fresh fruit, berries, vegetables and potatoes, but not products that have been thermally or otherwise processed.
 

Ringolds Arnītis, the Parliamentary Secretary of the Latvian Ministry of Agriculture, commented: «To us, it is important to look for options and find solutions that help preserve entrepreneurship in the country and especially in rural territories.»
 

The proposed amendments are still to be reviewed by the Saeima and if backed, the reduced tax rate would be introduced for the period from January 1 2018 to December 31 2020.

BNN

05-10-2017
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