Turnover of Rēzekne SEZ enterprises had increased in 2017

  blog/Turnover of Rēzekne SEZ enterprises had increased in 2017

Turnover of Rēzekne SEZ enterprises had increased in 2017

February 06, 2018

According to provisional data of 2017, Rēzekne SEZ enterprise had concluded the 20th year of the functioning of Rēzekne SEZ with 95 million euro turnover, which in comparison with 2016 marks increase by 13%.

2017 has been the year of stabile growth for Rēzekne SEZ enterprises. Turnover indicators have increased in the largest part of Rēzekne SEZ enterprises. Furthermore, in a number of enterprises it had significantly increased and even doubled. The largest increase of turnover in 2017 was in metal working enterprises RSEZ SIA “LATSTAB” and SIA “LEAX Rēzekne” RSEZ.

Looking back at achievements of the previous year it can be stated that the 20th working year has been successful for Rēzekne SEZ and 19 its enterprises. In 2017 the status of Rēzekne SEZ enterprise was granted to one enterprise – RSEZ SIA “Alfa Lithium”, wholesaler of metals and metal ores. Moreover in the previous year several enterprises had taken a decision to expand their presence in Rēzekne SEZ, including plywood mill “VEREMS” RSEZ SIA and metal working enterprise SIA “LEAX Rēzekne” RSEZ.

In the past year Rēzekne SEZ and its enterprises had received recognition on national and international level. Producer of pellet producer “NewFuels” RSEZ SIA had received Innovation and Export Award of Investment and Development Agency of Latvia as the largest exporter in the group of medium-sized and large companies. Enterprise “Energy Resources CHP” RSEZ SIA has received award of State Revenue Service of Latvia as the largest tax payer in Latgale region in group of small taxpayers. Meanwhile Rēzekne SEZ has received international recognition in Global Free Zones of the Year 2017 survey organized by fDi Magazine.

With the implementation of national tax reform, number of challenges await Rēzekne SEZ enterprises in 2018. Starting this year reinvested or retained profit of companies will not be subject to taxation, therefore corporate income tax incentives available in Latvia’s freeports and special economic zones will be applicable only to dividends. Therefore, in order to provide additional support for development of enterprises, Rēzekne SEZ authority and enterprises support initiative of Ministry of Environmental Protection and Regional Development. This initiative envisages expansion of the range of available incentives in Rēzekne SEZ by granting additional personal income tax incentives.

Photo from the archive of enterprise RSEZ SIA “LATSTAB”