Latvian Parliament Cuts Excise Taxes on Diesel Ahead of Election
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6 Articles
On Thursday, the Latvian parliament adopted amendments to the law on limiting the growth of oil product prices, providing for a reduction in excise duties and excise duties on gasoline.
The Latvian parliament on Thursday adopted amendments to the Law on Limiting the Increase in Prices of Petroleum Products, which provide for a further reduction in the excise duty rate on diesel fuel and a reduction in the excise duty rate on gasoline. The amendments will enter into force on October 1.
MPs on Thursday adopted amendments to the Law on Limiting the Rise in Prices for Oil Products, which provides for an even greater reduction in the excise tax rate for diesel fuel, as well as a reduction in the excise tax rate for gasoline.
On Thursday, the Saeima adopted amendments to the Law on Limiting the Increase in the Prices of Petroleum Products, which provides for an even greater reduction in the excise tax rate on diesel fuel, as well as a reduction in the excise tax rate on gasoline. The reduction could amount to 8 cents per liter, provided that fuel retailers fully pass on the tax reduction to the price of fuel.
The price of fuel will decrease if traders fully pass on the tax reduction to the price of fuel.
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