- The reduced VAT rate for fruits and vegetables produced in Latvia is likely to be abolished next year.
- The reduced VAT rate of 5% was introduced as a pilot project in 2018 and was planned to last for three years.
- The criteria for maintaining the reduced VAT rate were met, but the Finance Ministry viewed the project as unsuccessful.
- The government agreed to maintain the reduced VAT rate until autumn 2023, but it is no longer planned in next year’s budget.
- An additional EUR 3 million will be allocated to help fruit and vegetable producers with investments and competitiveness.
Source: eng.lsm.lv
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
