Latvian peat industry perplexed by exclusion from Covid-19 rental fee reductions - Zeme un valsts

Latvian peat industry perplexed by exclusion from Covid-19 rental fee reductions

The association explained that the Cabinet of Ministers regulations on the application of exemptions or reductions in rental fees for property owned by a public entity or a capital company controlled by a public entity in connection with the spread of Covid-19 include a provision stating that they do not apply to lease agreements concluded for the renting of real estate owned by a public entity or a capital company controlled by a public entity for the use of mineral resources.

The Latvian Peat Association pointed out that, as a result, peat extractors who lease extraction sites from the state – state forest manager AS "Latvijas valsts meži", the Nature Conservation Agency or municipalities – cannot qualify for a rental fee reduction based on the percentage decrease in the tenant's revenue from economic activity.

Latvian peat industry perplexed by exclusion from Covid-19 rental fee reductions

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