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11 Dec, 2008 16:37

Latvian publishers protest against tax hike

The Latvian Publisher's Association has been protesting against government plans to raise the VAT rate on magazines and newspapers.

The tax currently stands at five per cent, and the government is considering quadrupling it to 21 per cent next year.

The publishers say the measure would put the newspaper business on the verge of bankruptcy.

They believe it's meant to silence some periodicals ahead of municipal and European Parliament elections in June.