Tax changes should be considerate - Bank of Latvia president

  • 2020-08-27
  • LETA/TBT Staff

RIGA - Tax changes should be considerate, and they may take force later than planned, said Bank of Latvia president Martins Kazaks in an interview with the Latvian public radio today.

Commenting on the current discussions on the planned tax changes that have been stuck, Kazaks said that it is important to focus on the tax system in general, and changes should be considerate, besides they should not be rushed to meet the deadlines of the next year's budget.

"It is better think everything through carefully, inform everyone in a timely manner [..] We should better decide what we want to achieve with these tax changes. If decisions on tax changes are made next spring, and the changes are introduced in 2022, I do not see any problems there. Rush is no good in this case," said Kazaks.

He said that the current tax system should not be considered completely useless. "The house should not be burnt down. It can be improved," he said.

At the same time, he said that the Covid-19 crisis marked also urgent problems, such as social protection of residents.

As reported, several coalition members have said that the proposal on tax changes prepared by the Finance Ministry still should be reviewed, therefore it was not discussed at the government meeting on August 18.