Posts tagged as tax

US objects to French tax on tech firms at G-7 meeting

Wednesday, July 17, 2019

The Trump administration is objecting to France’s plan to tax Facebook, Google and other U.S. tech giants, a rift that’s overshadowing talks between seven longtime allies near Paris this week on issues ranging from digital currencies to trade. As finance officials from the Group of Seven rich democracies’ gathered Wednesday at a chateau in Chantilly, near Paris, U.S. Treasury Secretary Steven Mnuchin planned to take a tough line against host…

President Levits has no other option but to promulgate tax cut on strong alcohol due to bill’s urgency

Thursday, July 11, 2019

President Egils Levits has no other option but to promulgate the legislative amendment reducing excise tax on alcohol by 15 percent because Saiema has decided to adopt the bill in a fast-track procedure. Dina Meistere, head of the Saeima Legal Office, told LETA that since the parliament has assigned the bill urgency status by at least two thirds of votes, the president cannot request reconsideration of the bill and has…

Latvian Saeima’s committee refuses to reduce excise tax for beer

Thursday, June 27, 2019

On Thursday, 27 June, Saeima’s Budget and Finance Committee decided to not support the proposal to reduce excise tax for beer. With the expected reduction of excise tax for strong alcohol, the proposal to reduce excise tax for beer was submitted separately by three sides – Latvia’s Agriculture Minister Kaspars Gerhards, Saeima deputy Armands Krauze and non-party deputies Aldis Gobzems, Didzis Šmits, Jūlija Stepaņenko, Linda Liepiņa and Karina Sprūde. Politicians…

Baltic States should discuss tax on alcohol together, prime ministers agree

Wednesday, June 26, 2019

Latvia’s Prime Minister Krišjānis Kariņš has discussed with Estonia’s Prime Minister Jüri Ratas the need to resolve the alcohol excise tax issue by all Baltic States together, said the leader of Latvia’s government at a press-conference on Tuesday, 25 June. Estonia’s prime minister agreed that this would be an appropriate solution, said his Latvian counterpart. Kariņš explained that «everyone should understand that this is not a primarily a health issue…

Saeima endorses raising excise tax on sugary soft drinks

Saturday, May 25, 2019

On May 23 the Latvian parliament supported introducing a differentiated excise tax on soft drinks with added sugar in the second, non-final reading. 81 MPs voted ‘for’ the proposal, while 3 voted against. At the moment soft drinks with added sugar are uniformly taxed €0.074 per 100 ml. MPs now propose differentiating the tax, with the sweetest drinks taxed more than thrice the current rate in the bill under discussion. Specifically,…

Estonian govt has agreed about idea of lowering alcohol tax

Wednesday, May 22, 2019

The discussions on Estonia’s budgetary strategy for 2020-2023 will be continued on the basis of the current State Budget Act and an agreement has been made concerning lowering of the alcohol excise duty, Finance Minister Martin Helme said after the government meeting on the subject of the budgetary strategy for four years and the state budget for 2020, informed LETA/BNS. “We will go on based on the existing State Budget…

Latvian government has resolved to prepare new tax policy guidelines until May 2020

Wednesday, April 17, 2019

The government has resolved to develop new tax policy guidelines until May 2020, according to the action plan prepared by Krisjanis Karins’ (New Unity) government, writes LETA. The document says that the government will ensure a predictable tax policy that helps to reach the state strategic goals and meets the state fiscal needs. “By actively engaging social and cooperation partners, we will in due time prepare and approve the next…

India government steps up rural funding, cuts tax in pre-election budget

Friday, February 1, 2019

India’s Hindu nationalist-led government pledged 750 billion rupees ($10.56 billion) to support farm incomes and reduced the tax burden for middle class voters on Friday, hoping to refind favor with its last budget before a general election. Prime Minister Narendra Modi is facing discontent over depressed farm incomes and doubts over whether his policies are creating enough jobs. With opinion polls suggesting that Modi’s Bharatiya Janata Party (BJP) could lose…