Saeima to consider reducing VAT for gas and electricity

On Thursday, 10 March, the Latvian Saeima ordered the Budget-Finance Committee to assess the possibility of reducing VAT rate on gas and electricity to 12%.

The Saeima Budget-Finance Committee has also been tasked with developing a legal draft if the committee considers the option possible, as reported by the Saeima press-service.

The parliament made this decision based on a collective initiative submitted by Latvian residents. Authors of this initiative suggest amending the Value Added Tax Law and stating that electrical energy and natural gas should be applied with VAT of 12%.

The collective initiative was submitted to the Saeima on 2 November 2015. It was signed by 10,721 citizens.

BNN

10-03-2016

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