Liquidation of companies has been at high tide in Latvia for the last two years. The tally for 2018 reached approx. 21,000 entities, thus setting an all-time record, while the statistics available for 2019 show that more than 18,000 companies have been liquidated in the first seven months alone.
One of the main reasons for the recent surge in liquidation of businesses is the increased activity of the tax administration and the Latvian Register of Enterprises winding up empty companies that have ceased trading (or have never traded since their formation) or companies which have violated certain obligations towards the state
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