Thursday, April 23, 2015, Saeima has adopted amendments to the Micro-enterprise Tax Law, which intends to return to the 9% tax rate and other changes in the regulatory framework.
According to the amendments the current micro-enterprise tax rate of 9% will be maintained, and it will apply to business operations for the first 3 years with an annual turnover of EUR 7,000.01 up to 100 000. Starting with the company's fourth year, the rate will be 12 % of company's turnover.
The amendments also provide that the government will determine the sectors in which the company will not be able to be a micro-enterprise tax payer. It is expected that the restriction on the industries will come into force from January 1 of 2016.
