Lower VAT would cut Latvia’s inflation

  • 2012-03-21
  • From wire reports
RIGA - Latvia should consider lowering its value-added tax rate in the second half of the year to keep inflation within the range needed to adopt the euro, said central bank Governor Ilmars Rimsevics, reports Bloomberg. “The government would need to consider the possibility to not raise VAT, but the opposite, to lower VAT” if rising consumer prices threaten the country’s euro-adoption goal and receipts are adequate, Rimsevics said on March 15 in Riga today. “The second half of the year would be the latest that it could be done.”The Baltic country, which...
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