39,822 business operators pay micro enterprise tax in Latvia in early February

RIGA - There were 39,822 business operators registered as payers of micro enterprise tax in Latvia in early February this year, and 57,554entities have been removed from the list, according to the statistics of the Latvian State Revenue Service.

From September 1, 2010, when the micro enterprise tax was introduced in Latvia, till February 1, 2019, Latvian authorities have received a total of 97,376 applications from tax payers seeking the status of micro enterprise tax payers.

Compared to January 2019, the number of micro enterprise tax payers decreased by 2,279.

48,707 applications were submitted by corporate entities, 49,071 applications were from individuals and 3,621 applications were filed by individual business operators.

Applications for the status of micro enterprise tax payers were approved in case of 46,643 corporate entities, 47,229 individuals and 3,621 individual business operators.

At the same time, 1,719 applications from corporate entities, 1,021 applications from individuals and 79 applications from individual business operators were rejected.

As reported, the Latvian parliament in July 2017 adopted amendments to the Law on Micro Enterprise Tax under which micro enterprises with annual turnover below EUR 40,000 will be paying a 15 percent tax, starting from 2018, and the 20 percent tax will be applied to the turnover in excess of EUR 40,000 with special rules applying during the transition period in 2018 and 2019.