Government backs allocation of Mikhail Chekhov’s Riga Russian Theater to improve financial stability
November 3, 2020
The information was prepared by Lita Kokale, Head of the Public Relations Department.
The Cabinet of Ministers this year At the October 3 meeting, the Ministry of Culture (MoC) supported the proposal to direct the projected profit to be paid in dividends of the State Limited Liability Company (VSIA) “Mikhail Chekhov Riga Russian Theater” in 2019-2021 in the total amount of 47,300 euros, thus not increasing it. the necessary state budget grant.
The primary objective of the capital company is not to make a profit, but to perform the public administration tasks delegated to it in accordance with the Law on Cultural Institutions, therefore the annual projected part of the profit to be paid in dividends must be directed to cover the costs of providing delegated public administration tasks in the field of culture.
Mikhail Chekhov’s Riga Russian Theater needs investments to ensure the theater’s financial stability in order to cover the losses accumulated in previous years in the amount of 168,746 euros.
VSIA “Mikhail Chekhov Riga Russian Theater” is a state capital company in which the holder of 100% of capital shares is KM. The theater performs state-delegated administrative tasks in the field of culture, within the framework of which the direct tasks of the capital company include the promotion of professional theatrical art and its accessibility to the general Latvian society, creating diverse and high-quality professional theatrical performances.
Additional information:
Lita Kokale,
Public Relations Department
Head of Department
E-pasts: [email protected]
Tel. (+371) 67330343, 26469946
Ministry of Culture of the Republic of Latvia
Kr. Valdemara 11a, Riga, LV-1364, Latvia
Website: www.km.gov.lv
E-pasts: [email protected]
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