On Tuesday, March 24, the Cabinet of Ministers endorsed a fiscally neutral draft law prepared by the Ministry of Finance (MoF) to reduce the excise tax on diesel fuel in order to mitigate the impact of rapidly rising fuel prices on the economy and the public. This measure will reduce the price of fuel by approximately 8.6 cents per liter (including value-added tax). Following the reduction, Latvia will have the lowest fuel prices in the Baltic States. At the same time, the Baltic States -…
On Tuesday, March 24, the Cabinet of Ministers endorsed a fiscally neutral draft law prepared by the Ministry of Finance (MoF) to reduce the excise tax on diesel fuel in order to mitigate the impact of rapidly rising fuel prices on the economy and the public. This measure will reduce the price of fuel by approximately 8.6 cents per liter (including value-added tax). Following the reduction, Latvia will have the lowest fuel prices in the Baltic States. At the same time, the Baltic States - Lithuania, Estonia, and Latvia - are coordinating their actions to mitigate market shocks and the impact of fuel prices on residents. Estonia had initially planned to raise the excise tax on fuel starting May 1 but is now planning to abandon this step,…
