Recent reports by the local press state that representatives of Latvian joint-stock company Valmieras stikla skiedra (Valmiera Fiberglass, VSSR) met with Prime Minister Andris Berzins on 25 January an…
Recent reports by the local press state that representatives of Latvian joint-stock company Valmieras stikla skiedra (Valmiera Fiberglass, VSSR) met with Prime Minister Andris Berzins on 25 January and were promised that the Economy Ministry“s negative decision on tax breaks for Valmiera Fiberglass, which it hoped to receive because of investments made into the company, would be reviewed. During the premier“s meeting with Jurgen Preiss-Daimler, owner of Glasseiden GmbH Oschatz, the major shareholder and strategic investor into VSSR, and representatives of the VSSR management, government“s possible support to the company was discussed. Preiss-Daimler said he was embittered that the government had not allotted the company tax breaks, regardless of the fact that the company presents one of the most successful privatization cases in Latvia. The Germans have invested Euro 17,9 million into the company“s development, new technologies have been introduced and new job openings created. The VSSR board chairman Inars Polaks said that receiving the tax breaks was hindered by the complicated bureaucratic system at the Economy Ministry. The premier explained to the businessmen that in order to provide the company with state support, VSSR must undergo a legal analysis and European Union institution reports must be received that such a support is legal. “Since Latvia is now very close to joining the EU, it is very important that no mistakes are made,” said the premier. If such international reports are received, the matter could be reviewed at the government as an exception. The premier said that he could personally support granting tax breaks to the company.