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Saturday, 20.04.2024, 09:12
Solidarity tax revenues in Latvia to be spent on health care, social security
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Representatives of the Finance Ministry said that instead of abolishing the
solidarity tax, the government has decided to transform it in order to provide
the necessary financing for health care.
Under the draft amendments to the Solidarity Tax Law, one percentage point
of the solidarity tax revenues will be spent on health care financing and six
percentage points will be added socially insured persons' pension capital.
Also, 10.5 percentage points of the solidarity tax revenues will be paid
into the personal income tax account. The remaining part of the solidarity tax
revenues will be paid into the pensions special budget.
As reported, the Cabinet of Ministers today is revising the remaining bills
related to tax reform – amendments to the Law on Personal Income Tax, the Law
on Solidarity Tax, the Law on Excise Tax, the Law on State Social Insurance,
the Law on Corporate Income Tax, and Micro Enterprise Tax Law.
After the government adopts the amendments, they will be sent to Saeima who
might adopt the bills in the second reading on July 21.
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