Good for Business, Latvia, Pensioners, Taxation

International Internet Magazine. Baltic States news & analytics Tuesday, 19.03.2024, 04:28

In Latvia non-taxable minimum income on pensions to be raised to 330 euros in 2021

BC, Riga, 27.09.2018.Print version
Saeima of Latvia today adopted in the final reading amendments to the law on individual income tax, providing to raise the non-taxable minimum income on pensions to 330 euros a month in 2021, informs LETA.

At present the law states that non-taxable minimum income on pensions is 250 euros in 2018, and it will grow to 270 euros in 2019, and 300 euros in 2020.


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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