Greens/Farmers propose reducing excise tax on fuel for one year

RIGA - The Union of Greens and Farmers and other opposition MPs have submitted amendments to the Law on Excise Tax, proposing a reduction in excise tax on fuel for one year.

The amendments were initially proposed by Greens/Farmers members Viktors Valainis, Janina Jalinska, Janis Duklavs, Janis Vucans, Gundars Daudze, Uldis Augulis and Armands Krauze. Later on, the draft bill was also signed by MPs Ramona Petravica (Latvia First), Karina Sprude (For Him and Her) and Romans Naudins.

The amendments propose reducing excise tax from EUR 509 to EUR 359 per 1,000 liters of unleaded gasoline, and for fuel that contains lead, from EUR 594 to EUR 444.

The opposition members also suggest cutting excise tax on diesel and substitute products from EUR 414 to EUR 264 per 1,000 liters.

The draft amendment says that the reduced tax rates would apply from August 1 until August 31, 2023.

As reported, fuel prices in Latvia in June this year were on average 60.3 percent higher than a year ago, according to the Central Statistical Bureau.