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Latvia Considering Excess Profits Tax or Advance Tax on Banks as Part of 2024 Budget

|Proposed Changes|Latvia
Latvia

Latvia's Minister of Finance, Arvils Ašeradens, has reportedly announced plans to include proposed measures for an excess profits tax or an advance tax on banks as part of the Budget for 2024. The Minister is considering a temporary solidarity contribution on excess profits of banks similar to the 60% contribution introduced by Lithuania or an advance tax on banks like the advance tax imposed o…

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