LV: Introducing financial tax to decrease Latvia's EC budget contributions.

By bne IntelliNews March 26, 2012
Should EU introduce new tax on financial transactions, the contributions of the EU-member states to EC budget are going to half, Dienas Bizness paper reports. For Latvia the contribution would decline by EUR 81mn a year, for Lithuania by EUR 131mn, for Estonia by EUR 67mn. Two thirds of this tax's revenues would be transferred to EC budget, instead. The tax question is planned on transaction of all financial institutions registered in EU, at a rate of 0.1% on trade with shares and securities and 0.01% for other operations. This would result in about EUR 57bn annually. Should introducing the tax be approved, it will become effective as of January 1 2014.

Related Articles

EE: Estonian Air records EUR 49.2mn loss in 2012.

Estonian national airline Estonian Air recorded net loss of EUR 49.2mn in 2012, up from net loss of EUR 17.3mn in 2011. Operating loss amounted to EUR 35.8mn in 2012. Revenues of the company ... more

LT: Malsena acquires Latvian flour manufacturer Rigas Dzirnavieks.

Lithuanian flour manufacturer Malsena announced that it has acquired Latvian flour manufacturer Rigas Dzirnavieks. The company indicates that with the acquisition it will become the largest flour ... more

EE: Estonian Air to return excess Embraer airplanes.

Estonian national airline Estonian Air announced that it agreed to pay penalties for returning two excess Embraer E190 aircrafts to the manufacturer. The company has started restructuring and ... more

Dismiss