Ņikijs grāmatvedība - News

Tax simplification package to streamline compliance and enhance competitiveness of the Single Market

Wed, 24 Jun 2026 06:31:00 +0000

Today, the European Commission adopted an ambitious tax simplification package designed to simplify EU tax rules and reduce compliance burdens for businesses. The package comprises of two proposals, the Taxation Omnibus and the Recast of the Directive on Administrative Cooperation (DAC) and will modernise the EU's direct tax framework and strengthen the competitiveness of the Single Market while maintaining the existing strong level of protection against tax fraud, evasion and avoidance. The package is expected to save EU businesses around €8 billion annually, of which €3.3 billion in administrative costs.

Tax Simplification Package

Over the past decade, the EU has significantly developed its direct taxation framework. Most notably, developments have addressed the challenges arising from globalisation, digitalisation, the rise of aggressive tax planning practices and the need to strengthen the functioning of the internal market. This framework has delivered important results. However, the cumulative effect of successive legislative initiatives has also increased complexity and compliance costs for businesses operating cross-border.

The proposal addresses these issues and ensures that the Union's direct tax framework remains coherent, proportionate and effective. Its goal is to simplify the acquis in direct taxation, reduce unnecessary compliance burdens, enhance legal certainty, and facilitate cross-border activity in the internal market.

The Omnibus on Direct Taxation, it introduces key measures, such as:

Simplifying cumbersome rules to improve the internal market: The Omnibus introduces an exemption from withholding tax on all cross-border payments of dividends, interest, and royalties between companies in the EU. By removing upfront procedural requirements and simplifying refund processes, the measure will facilitate financing, encourage investment, and enhance competitiveness. This measure alone should bring EU taxpayers savings and benefits of around €5.3 billion annually.
Facilitating Financing: The Omnibus removes unnecessary restrictions on genuine third-party and market financing, making it easier for businesses to invest in the internal market. The Omnibus also simplifies the interest limitation rule in the Anti-Tax Avoidance Directive (ATAD) by eliminating implementation options and making the de minimis threshold mandatory. These changes will bring about compliance and administrative reductions amounting to over €500 million per year.
Eliminating Duplication: The Omnibus removes overlapping provisions between the Controlled Foreign Company (CFC) rules and the global minimum tax (Pillar Two), reducing unnecessary complexity and overlaps. This measure should save businesses approximately €160 million in compliance costs annually.

The main objectives of the DAC recast proposal are to simplify, clarify and enhance the EU legal framework for administrative cooperation in the field of direct taxation. By bringing together the DAC and its eight amendments into one single legal text, the legislation is more user-friendly and coherent, thereby improving legal certainty.

The recast introduces some key measures, such as:

Removing reporting obligations for certain cross-border arrangements: The recast removes reporting obligations for Multinational Enterprise (MNE) groups subject to the minimum 15% tax rate under Pillar 2 rules, generating compliance cost savings of around €300 million. It also eliminates reporting requirements for all other EU businesses for certain cross-border tax arrangements that provide limited added value for tax administrations, reducing reporting volumes by 35% and saving €40 million annually.
Supporting the Circular Economy: The recast increases the reporting threshold for the online sales of goods, removing reporting obligations on over 10 million private sellers, particularly those selling second-hand goods. This measure delivers compliance cost savings of €678 million for digital platforms.
Improving Taxpayer Identification: The recast introduces a new verification tool for taxpayer identification numbers, ensuring that tax administrations can efficiently and effectively identify all reported taxpayers.

Next steps

The package will now be submitted to the European Parliament for consultation and the Council for adoption.

Background

Since the start of this mandate, simplification has been a core priority of the Commission's work, with clear targets of at least 25% reduction in administrative burdens (35% for SMEs) and EUR 37.5 billion in annual savings by 2029. With the packages proposed today, the Commission has already put forward twelve omnibus packages and a broad set of targeted measures last year, cutting over €18 billion in recurring annual administrative costs.

But this is not just about reducing paperwork – simplification is a core part of the Commission's competitiveness agenda. It is about changing Europe's regulatory culture: designing rules that are clearer from the start, more proportionate, and easier for businesses, especially SMEs, to understand and comply with. The aim is to keep Europe's high standards, while making it easier to invest, innovate and grow across the Single Market.

A EUR 3 customs duty will be introduced from 1 July for goods in low-value consignments

Thu, 21 May 2026 17:35:00 +0000

From 1 July 2026, customs duty will be payable on goods purchased by consumers from online stores and trading platforms outside the European Union (EU). This follows amendments to EU legislation governing the application of customs duties to e-commerce consignments from third countries received by individuals in the EU, including Latvia.

On 1 July this year, a Regulation[1] will enter into force abolishing the current customs duty exemption for consignments with a value not exceeding EUR 150. To ensure that the customs clearance of low-value consignments remains efficient, a simplified method for calculating customs duty will be introduced: a fixed customs duty of EUR 3 per item line in a consignment.

An “item line” refers to one or more goods in a consignment that have the same tariff classification, description, and origin. This means that if a consignment contains, for example, different types of clothing, a customs duty of EUR 3 will be applied to each item line separately. A dress, men's trousers, baby clothing, and a T-shirt are classified under four different tariff categories and therefore constitute four separate item lines. Consequently, customs duty amounting to EUR 12 will be payable on such a consignment.

No changes are being made to the application of value added tax (VAT). VAT will continue to be payable on all goods contained in consignments.

If an online store or e-commerce platform, such as Temu, AliExpress, Shein, or eBay, sells goods under the special VAT scheme that allows taxes to be collected at the time of purchase (the IOSS scheme), both VAT and customs duty may be paid when placing the order. In such cases, recipients will not have to complete customs formalities themselves, as customs clearance will be carried out by the delivery service provider.

In all other cases, taxes will have to be paid when the consignment arriving in Latvia is cleared through customs. As is currently the case, recipients may choose the customs clearance method most convenient for them: either by completing the process themselves through the State Revenue Service's Electronic Declaration System (EDS) by submitting a simplified import customs declaration for postal consignments, or by using paid customs brokerage services offered by SJSC Latvijas Pasts, express courier customs brokers, or other customs clearance specialists.

As part of the ongoing reforms in the e-commerce sector, the EU will introduce a Union handling fee for all consignments arriving from third countries from 1 November this year. The fee will amount to EUR 2 for each item line in a consignment.

These changes will apply to purchases of goods from any third country, including China, the United States, the United Kingdom, Norway, Switzerland, and all other countries that are not EU Member States.

The amendments to EU legislation are intended to promote fair competition by eliminating situations in which traders from third countries enjoy a price advantage over EU businesses that pay taxes in full. The changes will also help combat fraud and the submission of false information regarding consignment values, such as declaring a value below EUR 150 in order to avoid customs charges. In addition, the new rules will strengthen safety controls, enabling more effective identification of products that do not comply with EU standards or may pose risks to consumers.

[1] Council Regulation (EU) 2026/382 of 11 February 2026 amending Regulation (EC) No 1186/2009 as regards the abolition of the value-threshold-based exemption from customs duties.

Information provided by the State Revenue Service (VID).

Automated Decision-Making Planned for Certain Simple Debt Collection Cases

Wed, 06 May 2026 17:38:00 +0000

The Saeima Legal Affairs Committee Supports Automated Decision-Making in Certain Simple Debt Collection Cases

On Wednesday, 6 May, the Legal Affairs Committee of the Saeima approved for the third reading amendments to the Civil Procedure Law that provide for the full automation of the enforcement of obligations under the warning procedure. This means that, in certain simple debt collection cases, courts will in future be able to issue decisions automatically, without an individual assessment by a judge in each case.

The amendments will apply to cases in which the enforcement of obligations is permitted under the warning procedure, namely simple debt recovery cases. Even now, judicial decisions in such proceedings are made according to clearly defined statutory criteria, and the planned automation will make this procedure more efficient.

At the same time, the time limit for submitting objections is to be extended from the current 14 days to 30 days. This means that debtors will have more time to receive the warning notice and assess their options. The law will also expressly provide a mechanism enabling the court to correct errors arising during automated decision-making, either on its own initiative or upon application by a party to the proceedings.

According to the Ministry of Justice, which drafted the amendments, automation will apply only to cases where there is no substantive dispute or where the debtor has been given the opportunity to create such a dispute by submitting objections within the prescribed period. As a result, automation will significantly reduce the workload of courts and allow judges to devote more time to hearing more complex civil cases.

The Civil Procedure Law provides that enforcement of obligations under the warning procedure is permitted only in simple debt recovery cases, for example where the debt can be proven by documents such as a contract or an invoice. This procedure cannot be applied if the debt exceeds EUR 15,000, in cases involving joint and several payment obligations, or in other situations specified by law.

The amendments also provide for the transfer of the functions of the Insolvency Control Service, which will be assumed by the Ministry of Justice and the Court Administration. In future, complaints regarding the actions of insolvency administrators will be examined by the courts when reviewing decisions adopted by the Ministry of Justice, while matters relating to the payment of insolvency proceedings deposits will be administered by the Court Administration. A clear system of judicial oversight over institutional decisions will also be introduced, establishing procedures for appealing such decisions.

The amendments to the Civil Procedure Law are planned to enter into force on 1 July 2026. Before that, the amendments must still be considered by the Saeima in the third and final reading.

Information provided by the Saeima of the Republic of Latvia.

Proposed Amendments to Streamline Tax Regulation and Improve Tax Administration

Thu, 30 Apr 2026 17:41:00 +0000

Ministry of Finance Proposes Amendments to the Law “On Taxes and Duties” to Simplify Regulation and Improve Tax Administration

The Ministry of Finance has prepared amendments to the Law “On Taxes and Duties” aimed at simplifying the regulatory framework, reviewing outdated legal provisions, and improving tax administration. The draft law was submitted for public consultation on the Unified Legal Acts Portal on Thursday, 30 April.

The amendments propose to streamline the terminology used in the law and remove provisions that are no longer relevant or are rarely applied in practice. These include regulations concerning the capitalization of tax debts, which were linked to privatization processes, as well as outdated requirements allowing taxpayers to review legal acts in person at tax administration offices.

At the same time, the duties of taxpayers and tax authorities are being clarified in order to make the regulation clearer and easier to apply. For example, it is specified that tax returns must be submitted not only within the deadlines established by legislation but also within any extended deadlines granted by the State Revenue Service (SRS), taking into account that the legal framework allows for such extensions. In addition, provisions are being updated to reflect modern terminology and align with other legislative acts.

The draft law also introduces improvements to administrative procedures. It is planned to allow certain warnings and notices to be issued electronically without the signature of an official, thereby reducing the administrative burden.

The amendments further provide for the removal of requirements that have lost their practical significance. For example, the regulation requiring an individual taxpayer to obtain a payroll tax book and submit it to the employer regarded as the primary source of income is to be abolished. The current regulation governing payroll tax books is already contained in the Law “On Personal Income Tax” and related Cabinet regulations.

In addition, the approach to publishing information on tax-related violations is being improved. In the future, information will be published only about legal entities whose officials have been subject to administrative penalties for the payment of undeclared wages. This measure is intended to enhance transparency while ensuring the protection of personal data.

The amendments also seek to modernize the regulation of e-commerce supervision by establishing procedures consistent with the legal framework governing the restriction of illegal online content and requests for information from intermediary service providers, including measures relating to domain name restrictions and access blocking. For example, the procedures applicable when a supervisory authority adopts a decision restricting illegal online content are being clarified. This will ensure compliance with European Union requirements and improve the effectiveness of supervision in the digital environment.

Overall, the amendments are aimed at creating a modern, clear, and efficient tax framework that reduces the administrative burden while strengthening supervisory capabilities.

The public consultation period runs until 14 May of this year, and members of the public may submit comments and proposals through the Legal Acts Portal (TAP).

Following the conclusion of the public consultation and the assessment of the comments received, the draft law will be submitted for interinstitutional coordination through the TAP portal. After completion of this coordination stage, it will be submitted to the Cabinet of Ministers for consideration. Subject to Cabinet approval, the draft law will then be forwarded to the Saeima for review.

Information provided by the Ministry of Finance of the Republic of Latvia.

SRS Reminds Taxpayers to Declare Foreign-Sourced Income

Fri, 20 Mar 2026 19:02:00 +0000

SRS Introduces New Informational Warning in EDS Regarding Foreign-Sourced Income

The State Revenue Service (SRS) has introduced a new informational warning in its Electronic Declaration System (EDS) aimed at proactively reminding taxpayers that if they earned income abroad in previous years, they may also have an obligation this year to complete Annex D2 of their annual income tax return.

What data is automatically included in the tax return?

The annual tax return must include all income earned during the calendar year, both in Latvia and abroad. However, the SRS can only automatically populate information that is already available in state information systems.

This includes:

data received from Latvian income payers regarding amounts paid to individuals;
information from private pension funds and insurance companies;
information provided by the State Social Insurance Agency;
information on eligible expenses for education and medical services.

As a result, when the EDS generates a pre-filled tax return using information available to the SRS, the taxpayer is responsible for verifying that the information is complete and accurate. If necessary, the taxpayer must correct or supplement the information, as only the taxpayer has full knowledge of all income received. Only after this review does the taxpayer confirm the accuracy of the information contained in the return.

What does the warning mean for taxpayers?

When reviewing a tax return, the SRS does not always immediately have information about income earned abroad, as data from foreign tax authorities may be received at a later stage. Therefore, the initial review of the tax return is based solely on information available in Latvian state information systems and on data provided by the taxpayer.

In the past, this sometimes resulted in situations where:

foreign-sourced income was not declared;
the tax return contained inaccuracies;
an unjustified tax refund was received; or
taxes were not paid on time.

To help prevent such situations, the new warning has been introduced.

The warning does not indicate that the individual definitely received foreign income during the current year. It is not based on information received from foreign tax authorities and does not display any data available to the SRS.

Its purpose is purely informational. It reminds taxpayers that:

if they earned income abroad in previous years,
there is a possibility that they may also have foreign income this year that must be declared by completing Annex D2.

The warning is intended to help taxpayers review their situation in a timely manner, avoid errors when completing their tax return, and prevent potential issues later on.

Foreign-sourced income

Income earned abroad must be declared even if tax has already been paid on that income in the foreign country.

When declaring such income, the taxpayer must indicate:

the amount of income received; and
the amount of tax withheld abroad, if any.

The most common types of foreign-sourced income include:

employment income and wages;
pensions;
dividends;
income received under service contracts.

SRS recommendations

The SRS encourages taxpayers to:

review the information in the Annual Income Tax Return section of the SRS website before completing the return;
carefully verify all information automatically displayed in EDS and correct or supplement it if necessary;
consult the guidance materials designed to assist in preparing and submitting the required information to the SRS;
declare all foreign-sourced income in full and attach supporting documentation where applicable;
consult the information available in the Latvian Residents Abroad section of the SRS website if questions arise;
provide explanations regarding bank account transactions or foreign income only if such information has been specifically requested by the SRS.

Information provided by the State Revenue Service (VID).

The Foreign Affairs Committee: Latvian businesses must be provided with equal opportunities in the transportation of goods of strategic importance

Sun, 03 Nov 2024 10:18:00 +0000

To ensure equal competitive opportunities for Latvian carriers in comparison with foreign businesses when transporting goods of strategic importance, the Foreign Affairs Committee of the Latvian Parliament (Saeima) on Thursday, October 31, conceptually supported amendments to the Law on the Circulation of Goods of Strategic Importance.

Currently, local carriers transporting strategic goods in transit, including goods supporting Ukraine and military cargo, face additional restrictions, as existing regulations require local carriers to obtain both a license and a permit for such cargo, while foreign carriers only need a permit. Representatives from the Ministry of Foreign Affairs clarified this during the committee meeting.

The amendments propose that Latvian-registered carriers transporting goods of strategic importance in transit will only need a permit issued by the country from which the cargo is exported or to which it is imported. This will ensure equal control and competitive conditions for Latvian and foreign carriers. Additionally, it is planned to eliminate the import license requirement for dual-use items.

The amendments also stipulate that, moving forward, the Ministry of Defense will issue business licenses for military manufacturers for a limited period of nine years. Furthermore, re-registration of already issued licenses is planned every three years. The Ministry of Defense will have the right to suspend an existing license for up to six months if additional inspections are needed, according to the explanatory note for the bill. Currently, such licenses are issued without a time limit.

The changes also aim to assign the issuance and inspection of civilian firearm transfer permits within the European Union exclusively to the State Police, to avoid duplicating the functions of multiple institutions.

Moreover, to improve the traceability of firearm accessories, such as silencers or scopes, in the domestic circulation, it is proposed that firearm dealers be required to register each buyer of a firearm accessory.

For these amendments to take effect, they must be supported by the Saeima in three readings.

Information from the Latvian Parliament (Saeima).

Starting from January 1, 2025, the national minimum monthly wage will be increased from 700 euros to 740 euros

Tue, 29 Oct 2024 15:00:00 +0000

This is stipulated by the regulations adopted at the government meeting on Tuesday, October 29, titled "Amendment to the Cabinet of Ministers Regulations No. 656 of November 24, 2015, 'Regulations on the Minimum Monthly Wage within Normal Working Hours and Calculation of the Minimum Hourly Tariff Rate.'"

Minister of Welfare Uldis Augulis emphasizes: "Next year, the minimum monthly wage will increase by 40 euros. We are beginning the transition to a new system, where the minimum wage will be set as a percentage of the average wage in the country. This will undoubtedly improve the financial situation and living standards of lower-paid employees."

The adopted regulations apply to employers and employees. According to data from the Central Statistical Bureau (CSB) on the number of employees with income up to or at the level of the minimum wage, in 2023, out of 131,584 employees in the private sector, 99,270, or 18.6% of those employed in the private sector, earned the minimum wage, while in the public sector, there were 29,012 employees, or 12.6% of those employed in the public sector.

Between 2020 and 2023, the share of employees earning the minimum wage or less in the public sector slightly increased from 10.4% in 2020 to 12.6% in 2023, whereas in the private sector, the proportion of those earning the minimum wage decreased from 21.2% to 18.6%.

In 2023, there were 822,489 employed people in Latvia.

Information from the Cabinet of Ministers of the Republic of Latvia

Foreign investors propose reducing overtime pay; the proposals still need to be discussed

Tue, 29 Oct 2024 14:33:00 +0000

It is necessary to reduce the overtime pay supplement across all economic sectors, setting it at 50% instead of double pay as it currently stands. However, if there is a collective agreement in the sector, the overtime pay supplement should be up to 20%. This proposal was presented by the Foreign Investors’ Council in Latvia (FICIL) at the Human Capital Development Council meeting on Thursday, October 24.

According to the Employers’ Confederation of Latvia (LDDK), Latvia is currently the only country in Europe where overtime is paid at a 100% rate.

FICIL believes that the existing regulation in sectors where there are general agreements often does not work in practice, and these changes could reduce the shadow economy, for example, in the construction sector. During the meeting, FICIL presented 12 proposals for amendments to the Labor Law, which are planned to be discussed in the coming months.

In light of the intense discussions that arose during the meeting, Minister of Economics Viktors Valainis called on all parties involved to provide a specific assessment of each FICIL proposal for the next meeting. Additionally, a broader collection of information on how labor law practices are handled in other countries is required. "The international aspect is still greatly missing," said V. Valainis.

FICIL also proposes withholding part of the final salary in cases where an employee, upon ending employment, has not returned company equipment or other items.

The Human Capital Development Council is known to be a collegial body consisting of three ministers — for the economy, education and science, and welfare. It was established to implement coordinated interdepartmental cooperation and make decisions on planning, developing, implementing, and monitoring necessary labor market adjustments to foster human resource development in line with future labor market demands and structural changes in the economy aimed at creating higher added value to benefit society as a whole. The council is chaired by the Minister of Economics. To improve the management of human capital development issues and promote dialogue between all parties involved in addressing these issues, amendments to the regulations of the Human Capital Development Council were approved at the Cabinet of Ministers meeting on August 20, following the Ministry of Economics' initiative. The amendments stipulate that, in the future, representatives from Latvia's largest and most influential business and trade union organizations will also participate in the Council's work in an advisory capacity, including the Free Trade Union Confederation of Latvia, the Foreign Investors' Council in Latvia, the Employers’ Confederation of Latvia, the Latvian Exporters Association "The Red Jackets," and the Latvian Chamber of Commerce and Industry.

Information from the Ministry of Economics of the Republic of Latvia.

A draft law on cash regulation has been submitted for public consultation

Tue, 20 Aug 2024 13:29:00 +0000

On Tuesday, August 20th, the Ministry of Finance (MF) submitted a draft law titled "Amendments to the Law on Taxes and Fees" for public consultation on the Legal Acts Drafts Portal. These amendments are designed to more effectively monitor cash circulation and promote the use of cashless payments in transactions. The amendments introduce several significant changes and were prepared as part of the measures included in the Shadow Economy Limitation Plan for 2024–2027.

The amendments delegate to the Cabinet of Ministers the authority to determine cases where entities subject to the Law on the Prevention of Money Laundering and Terrorism and Proliferation Financing are required to submit a threshold declaration to the State Revenue Service (VID) using the Financial Intelligence Service’s receipt and analysis system. Currently, the Law on Taxes and Fees specifies only one particular entity and case where a threshold declaration must be submitted to the VID using the Financial Intelligence Service's receipt and analysis system. In the future, the State Revenue Service will receive information about cash transactions exceeding 750 EUR.

Additionally, the proposed amendments stipulate that banks and service providers will be required to report to the VID once a year on cash transactions of their clients—individuals—if their total annual amount exceeds 7,000 euros. Currently, the VID receives information on individuals whose account turnover for the previous year exceeds 15,000 euros. Consequently, information on cash deposits, combined with the existing data provided by banks and payment service providers, will enable more effective identification and timely prevention of tax evasion risks.

Furthermore, for taxpayers with an annual turnover exceeding 50,000 euros, the amendments to the law require them to provide customers with the option to make payments for services and retail transactions also in a cashless form.

The current regulations stipulate that taxpayers in wholesale trade must only conduct cashless transactions, including payments by card. According to the Law on Taxes and Fees, wholesale trade is defined as the sale of purchased goods in the name of the economic operator for resale, production, or ensuring its own activities. Therefore, the proposed regulation will affect service providers and retailers who will be required, in addition to existing cash payments, to offer customers the option to pay by cashless means.

The draft law is available for review on the Legal Acts Drafts Portal.

Information from the Ministry of Finance of the Republic of Latvia

The Fiscal Risk Declaration has been submitted for consideration to the Cabinet of Ministers

Sat, 17 Aug 2024 10:07:00 +0000

The Ministry of Finance has prepared and submitted for consideration at the Cabinet meeting the annual informative report on the Fiscal Risk Declaration. In the context of the declaration, fiscal risk refers to the probability that the basic fiscal indicators will deviate from their projected values during budget execution.

To achieve the objective of fiscal risk management, the Ministry of Finance, in collaboration with state institutions, assesses the fiscal impact and probability of occurrence of identified risks, and necessary measures to mitigate or prevent these risks are developed or refined. To stabilize the impact of risks, a fiscal safety reserve is provided, the amount of which depends on the impact of the risks on fiscal indicators and must not be less than 0.1% of the Gross Domestic Product (GDP) annually.

The annually analyzed quantifiable and non-quantifiable fiscal risks include state and municipal guarantees, state loans, risks in the welfare sector and financial sector, contributions to the European Union (EU) budget, EU fund program expenditures, state commitments to make capital contributions on demand, fiscal risks of the economic activities of state-owned enterprises classified in the general government sector, court rulings, and many others. Most risks exhibit a symmetry characteristic, meaning that the probability and amplitude of positive and negative deviations are similar, and the impact of such risks in the long term is close to zero. Accordingly, such risks do not pose a threat to the stability of fiscal indicators in the medium term. The calculation of the reserve includes fiscal risks arising from state loans and state guarantees.

It should be noted that comprehensive and significant macroeconomic shocks and extraordinary situations are not directly analyzed in the declaration but are assessed separately in aspects that could potentially have a significant impact on public finances and their stability. These aspects include the analysis of state-owned enterprises not classified in the general government sector, the evaluation of guarantees, debt, and its sustainability in the general government sector, but in these cases, no reserve calculation is made.

The scope of the declaration expands over time, taking into account the relevance of issues. This year, the section on the impact of climate change has been expanded in the declaration, including a new subsection titled “Green Budget.”

The preparation of the declaration and determination of the amount of the fiscal risk reserve is an integral part of the preparation of the state budget bill for the current year and the medium-term budget framework, as the available fiscal space for financing priority measures is determined, taking into account the amount of the fiscal safety reserve calculated within the framework of the declaration. When reviewing the declaration, the Cabinet of Ministers will decide on the amount of the fiscal safety reserve. This year, it is proposed that the fiscal safety reserve for 2025–2027 be set at the minimum level specified in the Fiscal Discipline Law, namely 0.1% of GDP (an average of approximately €47 million), thereby providing a “safety cushion” for cases where macroeconomic and fiscal indicators deviate from their planned values.

The informative report is available on the Legal Acts Drafts Portal.

Information from the Ministry of Finance of the Republic of Latvia