The Latvian cabinet approved draft measures October 9 that will see the threshold at which companies must be registered for Value Added Tax (VAT, or PVN in Latvian) rising from 40,000 euros to 50,000 euros. The move is a response to high inflation which has seen prices and therefore turnover rising, forcing more and more businesses towards the existing 40,000 euro threshold.
Source: eng.lsm.lv
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