Min­istry: busi­nesses will be able to pay sev­eral taxes in a sin­gle pay­ment

Baltic News Network - - Front Page -

The Cabi­net of Ministers will soon re­view Fi­nance Min­istry’s pre­pared leg­isla­tive projects that pro­vide for uni­fy­ing tax pay­ment terms (once a month, once per quar­ter and once a year) for taxes ad­min­is­tered by the State Rev­enue Ser­vice. Amend­ments pro­vide the op­tion to com­bine sev­eral taxes in one pay­ment. This is in­tended to re­duce ad­min­is­tra­tive bur­den.

This means that start­ing from 2021, SRS’ ad­min­is­tered taxes (value added tax, ex­cise duty, elec­tric­ity tax, lot­ter­ies and gam­bling tax, cor­po­rate in­come tax, mi­croen­ter­prise tax, per­sonal in­come tax) will be per­mit­ted to be paid to a sin­gle state bud­get ac­count and in the form of a sin­gle pay­ment be­fore the 23rd of ev­ery month.

This is planned to re­duce time and hu­man re­source con­sump­tion, as well as costs needed to pre­pare tax pay­ments, notes the Fi­nance Min­istry.

The leg­isla­tive project will al­low busi­nesses to com­bine sev­eral tax pay­ments into one. The right to pay taxes sep­a­rately will re­main, the min­istry adds.

A uni­fied tax ac­count for SRS ad­min­is­tered state bud­get pay­ments will be cre­ated on 1 Jan­uary 2021. This also ap­plies to taxes: per­sonal in­come tax, cor­po­rate in­come tax, value added tax, ex­cise tax, cus­toms du­ties, natural re­source tax, lot­ter­ies and gam­bling tax, manda­tory so­cial se­cu­rity con­tri­bu­tions, elec­tric­ity taxes, and mi­cro-en­ter­prises tax.

The uni­fied tax ac­count will be in­tro­duced for other reg­u­larly per­formed pay­ments, in­clud­ing state duty for busi­ness risk, a state fee for the right to use num­ber­ing, a patent fee, pay­ments for the use of state cap­i­tal, and pay­ments for re­quests for re­cov­ery of tax debts sub­mit­ted by the tax au­thor­i­ties of the Mem­ber States of the Eu­ro­pean Union and other coun­tries.


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