As of next year, the rate of natural resources tax will be significantly increased in certain areas, according to draft amendments to the Natural Resources Tax Law approved by the government on Monday.
The draft legislation provides for gradually raising the natural resources tax rate on household and industrial waste that is not considered hazardous waste from EUR 95 per ton to EUR 130 per ton.
The tax rate is planned at EUR 110 per ton in 2024, EUR 120 per ton in 2025 and EUR 130 per ton in 2026. As a result, the rate natural resources tax will be upped by nearly 37 percent over the next three years.
The tax rate for burying hazardous waste will be raised as well. This tax rate will go up from EUR 100 per ton to EUR 115 next year, to EUR 125 per ton in 2025 and to EUR 135 per ton in 2026.
The natural resources tax on motor vehicles imported into Latvia will be doubled. As explained in the annotation to the draft law, the current rate of natural resources tax per vehicle registered in Latvia for the first time is EUR 55.
In the category of end-of-life vehicles (ELVs), it has been noted that the amount of ELVs related waste, made up of ferrous and non-ferrous metals, as well as plastic waste and electronic waste, is increasing, especially for recycling and recovery.
In view of this, the tax rate on vehicles is to be doubled to EUR 110.
It is also planned to introduce new items subject to the natural resources tax. These will include hydrocarbon extraction, textiles, plastic-containing articles and plastic-containing fishing gear not covered by the extended producer responsibility scheme, tires fitted to vehicles, plastic packaging and the amount of plastic contained in composite packaging that has not been recycled or recovered during the reference period.
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