Latvia Parliament Considers Bill to Amend VAT Law

The Latvian Parliament (Saeima) Sept. 16 accepted for consideration Bill No. 1048, to amend the VAT Law. The bill includes measures to reduce to 5 percent from 12 percent, the VAT rate for supplies of: 1) medicinal products registered with the European Agency for the Evaluation of Medicinal Products; 2) medicinal products registered in the Republic of Latvia; 3) medicinal products with relevant State Agency of Medicines permits; 4) medicinal products not requiring registration under the pharmacy laws and regulations; and 5) registered medical devices, complementary parts, spare parts, and accessories, for individual use in treating or relieving functional body ...