Commenting on the information published in mass media about the deferred tax payment, JSC Latvijas balzams confirms that the company has agreed with the State Revenue Service (SRS) about the possibility to use the deferred tax payment option in the amount of EUR 3.83 million comprised by VAT and excise tax.  

The SRS has agreed to this request, and tax payments in the budget have been spread according to the timeline offered by the company, namely, payments must be made by 16 October 2014.

Dana Hasana, Communications Manager of the company, informs:
“JSC Latvijas balzams has executed statutory rights which state that a company which has no tax debts has the right to use - four times a year the possibility of paying taxes according to a special schedule agreed in advance, and, like many other companies, we have used this option stipulated by the law. The deferred tax payment should not be considered as an extraordinary situation but rather has been used in order to manage the cash flow in the company.”

The company's unaudited results of Q1 show that Latvijas Balzams’ turnover in Q1 has reached EUR 21.8 million which is by 0.8% more than in the respective period of year 2013. Unaudited profit for the reporting period comprises EUR 1.3 million which is twice as much as the result of the respective period of year 2013.

Additional information:
Dana Hasana
JSC “Latvijas balzams” Communications Manager
Phone: +371 67011711
Mob. phone:+371 26355895
E-mail: dana.hasana@lb.lv
www.lb.lv