Turnover of Rēzekne SEZ commercial companies increased in 2017

According to the aggregated estimates of commercial companies for the year 2017, the 20 th year of operation of the Rēzekne Special Economic Zone (SEZ) commercial company area has concluded approximately 95 million euros turnover, which in comparison with 2016 marks an increase of 13%.
2017 Rēzekne SEZ commercial companies have been a year of stable growth. The increase in turnover figures is observed in most of the Rēzekne SEZ commercial companies, and in many of them it has increased significantly and even doubled. The largest increase in turnover in 2017 was observed in metalworking companies RSEZ SIA “LATSTAB” and SIA “LEAX Rezekne” RSEZ.
Looking back at last year, the 20 th year of operation in Rezekne SEZ and 19 of its commercial companies has been successful. In 2017, Rēzekne SEZ's commercial company status is granted to one company, RSEZ SIA “Alpha Lithium”, which deals with wholesale trade in metal and metal ores. In addition, a number of Rēzekne SEZ commercial companies, including “VEREMS” RSEZ SIA and metalworking company SIA “LEAX Rezekne” RSEZ, have taken the decision to extend the operation in the territory of Rezekne SEZ last year.
In the last year, Rezekne SEZ and its commercial companies have gained recognition both nationally and internationally. The wood particle granule producer “NewFuels” RSEZ SIA has become a winner of the Latvian Investment and Development Agency “Export and Innovation Award 2017” in the category “Most most viable merchant” in the group of large/medium-sized commercial companies. “Energy Resources CHP” RSEZ SIA received the State Revenue Service award as the largest taxpayer in Latgale region in the small taxpayer group. On the other hand, Rezekne SEZ has generally received international recognition in the FDI Magazine survey of the most promising world free zones in the Global Free zones of the Year 2017.
As the country's common tax policy changes, the 2018 Rēzekne SEZ commercial companies are faced with new challenges. In the future, the reinvested or retained earnings of companies will not be taxed, while in Latvian special economic zones and free ports, the available corporate tax incentives will be attributable only to dividends. Therefore, in order to provide additional support for the development of enterprises, the Rēzekne SEZ Board and the Commercial Companies support the proposal of the Ministry of Environmental Protection and Regional Development to extend the range of benefits available to Rēzekne SEZ commercial companies by granting additional personal income tax relief.
Regarding the special economic zone of Rezekne:
Rezekne SEZ was established in 1997 on the basis of “Rēzekne Special Economic Zone Act”. This Law prescribes the procedures for the administration and utilisation of Rezekne SEZ, requirements for the performance of commercial activities and investments, as well as the functions and tasks of the Rēzekne SEZ administration.
The Law on the Application of Taxes in Free Ports and Special Economic Zones is laid down in the Law on the Application of Tax Facilities in Free Ports and Special Economic Zones. The capital companies registered in Rezekne SEZ may receive both direct tax discounts (real estate tax, corporate tax) and indirect tax relief, forming the free areas of Rezekne SEZ, as well as making investments. Tax relief for Rezekne SEZ will be applicable until 31 December 2035.
The total area of Rezekne SEZ is 1155 ha, which includes the administrative territory OF the municipality of Rezekne and Rezekne, Vērēmu, Griškānu and Ozolaines parish. With the status of Rezekne SEZ, 19 commercial companies are active in early 2018.
 
Additional information:
Rēzekne Special Economic Zone Administration
Phone: 28633550; e-mail address info@rsez.lv; homepage: www.rsez.lv