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"Latvijas Kugnieciba" CEO recommends government to abolish corporate income tax on maritime transportation

Photo: Lita Krone.
 RIGA, Nov 26 - If the Latvian government opted to abolish corporate income tax on maritime transportation, it would attract more foreign ship owners, particularly due to the availability of qualified sailors in Latvia, "Latvijas Kugnieciba" (Latvian Shipping Company) Management Board Chairman Simon Blaydes points out in the Latvian Business Report 2012 collated by "Latvijas Talrunis", "Firmas.lv" and "Nozare.lv".
Blaydes explains that, in that case, the number of employed sailors would increase in Latvia, which takes pride in old seafaring traditions, and their considerable income and consumption would be benefit the country's economy.
He emphasizes that this is of decisive strategic importance for Latvia if it wishes to become not just a transit corridor between the East and West, but aim higher and become Northern Europe's Singapore.
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