Latvia to increase VAT by 1% to 22% |
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19th November 2010 The Latvian government today announced a proposed 1% increase in the standard rate of VAT to 22% from 2011. This rise is aimed at helping balance the state deficit. Latvian VAT was last raised in 2009 from 18% to 21% under pressure from the IMF. The Latvian reduced VAT rate also increased to 5% at the time. |
