Financial Services, Latvia, Legislation, Society

International Internet Magazine. Baltic States news & analytics Sunday, 22.09.2019, 05:17

Latvian government raises annual earnings cap for social security contributions to EUR 55,000

BC, Riga, 13.12.2017.Print version
In 2018, the maximum annual earnings on which state mandatory social security contributions are changed will be raised to EUR 55,000, the Latvian government decided yesterday, cites LETA.

The Welfare Ministry explained that the social tax is changed on personal income liable to state mandatory social security contributions.

 

For this year, the taxable income caps were set at EUR 52,400. For 2018 they are being raised based on this year’s taxable income caps of EUR 52,400 and the wage growth index of 1.05.

 

In 2016, there were 4,200 socially ensured persons in Latvia whose annual salaries exceeded EUR 55,000, according to the State Social Insurance Agency’s data.






Search site