Latgale Special Economic Zone was established with the aim of attracting investments for the development of production and infrastructure, creation of new jobs and development of Latgale region as a whole. Unlike other special economic zones of Latvia, the Latgale SEZ does not specify the location and area of the territories which may be granted SEZ status, but it is allocated to the territory in which the entrepreneur invests. Enterprises operating in Latgale SEZ territories will have the opportunity to qualify for direct tax relief, namely:
80% off corporate income tax and 80% discount on real estate tax.
The tax incentives for Latgale SEZ companies can be used by local entrepreneurs who intend to increase their production capacity or to expand and diversify production, as well as foreign investors who intend to start a business in the territory of Latgale.
Today 7 Latgale SEZ companies operate in the administrative territory of Daugavpils, representing the following sectors: outerwear, metalworking, food industry, wood processing, real estate management and leasing. The total territory of enterprises is 19.46 ha. The companies employ 428 employees.
Latgale SEZ management contact information:
e-mail: email@example.com, Latgale SEZ Deputy Manager Vladislavs Stankevics