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Thursday, 25.04.2024, 09:29
Latvian ruling coalition "thumbs up" on so-called solidarity tax
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The tripartite National Cooperation Council previously took an opposing stance on the tax, but now it will be for the Cabinet of Ministers to decide.
As explained the Ministry of Finance, currently the
maximum size of social tax on
wages is imposed in Latvia, and the
tax burden for the minimum wage recipients
and those, who earn more than
8,000 euros a months, is almost
the same.
From the 800 000 employees in Latvia, the solidarity tax will be paid by only 4,700
employees, whose salaries are on average 4,000 euros
a month. Solidarity tax will
eliminate the contradiction that
a certain number of persons are able
to pay much lower taxes from
their income.
The Ministry of Finance has already estimated that to "qualify" for the tax, the taxpayer in question must make an average EUR 75,300 a year.
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