Latvia Parliament Considers Bill to Reduce VAT Rate on Energy Products

The Latvian Parliament (Saeima) Sept. 22 accepted for consideration Bill No. 1648, which includes measures to: 1) beginning Jan. 1, 2023, set a fixed price of up to 0.13 euros (US$0.13) per kilowatt-hour for electricity produced in Latvia, excluding VAT; and 2) reduce the VAT rate to 5 percent on electricity, thermal energy, natural gas, and fuel, applicable Nov. 1, 2022, through May 31, 2023. [Latvia, Parliament, 09/22/22]

Reference: View Bill No. 1648. View Index.