2020

Tax Rate on Sand Extraction has Increased

As of 1 January 2020, changes to the Natural Resources Tax Law have taken effect, affecting the price of mineral materials. The rate of Natural Resources Tax per cubic metre of sand has been increased by 0.15 euros.

The annotation to the law states that the revision of the tax rate, which is a nominal figure, not a percent, is based on the experience of other countries in indexing the tax rate to the level of inflation.

The annotation states that the Natural Resources Tax rate on sand mining had to be raised to reduce tax fraud in the country. To date, there have been a number of cases of incorrect accounting and reporting of the tax rate for the relevant subjects of Natural Resources Tax.

The Natural Resources Tax Law equates the Natural Resources Tax rate for sand extraction with the Natural Resources Tax rate for sand-gravel extraction.

For information about the prices of mineral materials, cooperation options, mineral materials and their mixtures at mineral resources available at the mining sites, please contact LVM Zemes dzīles (LVM Subsoil) Sales Specialists: