July 2021 Economy Briefing: The Latvian Tax Reform and its Impact on Business

Task of the science is to serve
people.

– Tolstoy –

Science is the captain, and
practice the soldiers.

– Leonardo da Vinci –

Frontiers of science are like the
horizon: the more we approach
it, the more it moves away.

– Boiste –

The fantasy is more important
than knowing.

– Albert Einstein –

Science – it means organized
knowledge.

– Spencer –

Freedom for the science the
same as the air for a living soul.

– Poincaré –

Research area of all sciences is
endless.

– Pascal –

System of science must be
looked at as the system of
nature: all in it is endless and
necessary.

– Cuvier –

Scientific plan without working
hypothesis is a skeleton without
living body.

– Hirschfeld-

The main research subject of
mankind is the human.

– Goethe –

All is important in science.

– Heine –

Books must be results of
sciences, but sciences not results
of books.

– Bacon –

Scientist is not the one, who
gives the right answers, but the
one, who asks the right
questions.

– Claude Lévi-Strauss –

The more we will seek for the
truth outside us, the more we
will move away of it. The more
we will be able to understand
who we are, the more the truth
will assert us in ourselves.

– Antonio Meneghetti –

Before being dictated the nature
needs to be obeyed.

– Bacon –

A true scientist is not one who
has more acquired, but one who
has more understood.

– Leibniz –

Science – to know how the
being acts. To know the action
of the being.

– Antonio Meneghetti –

Science is benefactor of
mankind.

– Berthelot –

Sākums » News » July 2021 Economy Briefing: The Latvian Tax Reform and its Impact on Business

July 2021 Economy Briefing: The Latvian Tax Reform and its Impact on Business

July 2021 | News

With the entry into force of the Latvian tax reform of 2021, entrepreneurs and employees of various sectors are uncertain about their further activities, considering the mandatory state social insurance tax, which employers must pay starting from 1 July 2021. The most disadvantaged of this reform are the self-employed, micro-enterprises, royalty recipients and part-time workers in several jobs. Although the reform has already entered into force, business associations maintain a strong position and continue to protest after 1 July. The ongoing tax reform will have a negative impact on every small business, as it places too much responsibility on workers.