Good for Business, Latvia, Pensioners, Taxation

International Internet Magazine. Baltic States news & analytics Friday, 29.03.2024, 06:22

Saeima of Latvia supports in principle raising non-taxable minimum income on pensions to 330 euros in 2021

BC, Riga, 20.09.2018.Print version
Saeima of Latvia today in the first reading supported a bill, providing to raise the non-taxable minimum income on pensions to 330 euros a month starting from 2021, informs LETA.

At present non-taxable minimum income on pensions is 250 euros, and it will grow to 270 euros in 2019, and 300 euros in 2020.


Saeima social and labor affairs committee agreed to submit the respective amendments to the law on personal income tax to the parliament.


According to the Finance Ministry of Latvia, raising of non-taxable minimum income on pensions to 3,960 euros a year will create a negative fiscal impact worth 11.8 mln euros.

 

 






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