News

Tackling the Grey Economy in Latvia

Jan 18

70 members and guests attended the AmCham Outlook to discuss the shadow economy and its impact on Latvia's business environment on January 18 at SSE Riga. 

The shadow economy, which includes both tax and regulatory evasion, has a serious impact on Latvia's business environment, distorting the level playing field for companies big and small. It affects the state budget and endangers public safety. It puts a pressure on legitimate businesses and the public sector alike.

A substantial reduction of Latvia's grey economy would ensure that businesses, employers and consumers are better protected and citizens are safer and have more access to public services such as healthcare, education, and safe roads and buildings.

Economists agree that causes promoting the informal economy are complex, among the main factors indicating government tax policies, over-regulation of business as well as poor law enforcement and compliance. However, there is not a "one-size-fits all" solution that could be easily adapted by all countries.

AmCham Outlook addresses business topics of interest to AmCham members and the wider business community in a timely and lively forum. The event program involves detailed remarks from each speaker, followed by a Q&A session.

Media coverage:

Please note that you may sign up until 12:00 on January 17. Cancellations will be accepted until then also. The Chamber reserves the right to bill those who signed up but did not attend.

 

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At AmCham events you learn, you think, you meet, you enjoy.

Eric Morizur, Managing Director & Chairman of Rigas Karte