The draft order on assigning of corporate income tax discount to Latvijas Mobilais Telefons (LMT) for implementation of the investment project “Development of the next generation mobile connection network on the territories of Latvia with small density of population”, which was prepared by the Ministry of Economy, was sustained by the Cabinet of Ministers. Within the project LMT shall ensure the residents of populated areas with small density with access to the latest generation 4G broadband internet.
LMT has invested into development of telecommunication over 300 million lats, and over 50 million lats 0 into data transmission. The corporate income tax discount will allow the operator to introduce the latest generation technologies much faster also in regions. In general over next five years LMT is planning to invest into development of the network over 88 million lats says Juris Binde, the president of LMT.
Within the investment project LMT is planning to invest 29.01 million LVL, thus after implementing the project LMT will be subjected to the corporate income tax discount in the amount of 7.25 million LVL.
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