Latvian Parliament considers Bill to reduce the VAT rate of Petroleum to 12% until December 31, 2022

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The government has been urged to reduce VAT on fuel and diesel as prices hit new highs. The Latvian Parliament (Saeima) approved Bill No. 1385 for consideration. The Bill lowers the VAT rate on Petroleum products to 12% from the standard rate of 21%. 


The legislation would be in effect from April 1 to December 31. 





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