Industry Advocates for Lower VAT on Catering Services in Latvia

• Initiative to introduce reduced VAT of 12% for public catering in Latvia
• Aim is to make catering services more accessible and reduce shadow economy
• Most EU countries have reduced VAT rate for public catering
• Expected benefits include increased turnover, profit margins, and employment
• Initiative will not reduce prices but contribute to tax payments
• Ministry of Finance and Ministry of Economics asked to prepare calculations for evaluation

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.

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