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State aid to business due to COVID-19

Dec 03, 2020

Leinonen Latvia has compiled useful information on available state aid to businesses due to COVID-19:

  • Support to industries affected by the crisis
  • Support measures to employers, self-employed persons and patent fee payers
  • Support measures in the tax administration sphere
  • Support provided by the State Development Finance Institution "Altum"/COVID-19

To restrict the spread of COVID-19 in Latvia, from 9 November 2020 to 11 January 2021, emergency situation has been announced in Latvia and strict restrictions have been passed. Detailed information on restrictions is available here

On 5 June 2020, the Saeima (Parliament) passed the Law on the Suppression of Consequences of the Spread of COVID-19 Infection that became effective as of 10 June 2020. This summary provides updated information on the state support to entrepreneurs currently available in Latvia.

The state support measures available to the enterprises have been stipulated in the Law on the Suppression of Consequences of the Spread of COVID-19 Infection and the laws and regulations issued based on the above law.

The purpose of the legal framework is to restore general legal conditions after the end of the term of the emergency situation, providing a set of measures to suppress the spread of COVID-19 infection and special support mechanisms and expenses directly related to the suppression of the spread of COVID-19 to ensure improvement of the general economic situation and facilitate the stability of the national economy.

Read the entire article HERE

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