Latvia To Reduce Basic Food VAT to 5%

The Latvian Ministry of Economics is considering a two-year cut in the Value Added Tax rate on basic foodstuffs from 21% to 5%.  This would cover meat, diary and bread. An extension to catering services is also being considered. Cuts on duties on fuels and electricity levies are also being considered. The temporary cut to 5% could come into effect on until 30 June 2024