Labor tax cuts favored

  • 2012-03-28
  • From wire reports
RIGA - Labor taxes should be the ones reduced in Latvia, not consumption taxes, asserted President Andris Berzins in an interview with LNT television on March 27, reports LETA. Asked about possible tax cuts, the president pointed out that this decision will only be possible when the budget results for the first half-year are assessed.Berzins currently does not approve of consumption tax cuts, which could reduce budget revenue and lead to additional painful budget consolidation measures.The Finance Ministry has proposed reducing the personal income tax rate to 21 percent and raisi...
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