Financial Services, Latvia, Legislation, Taxation
International Internet Magazine. Baltic States news & analytics
Wednesday, 16.07.2025, 09:18
Personal income tax rate in Latvia lowered to 24%
BC, Riga, 02.01.2013.
Print version
Print versionPersonal income tax rate in Latvia in 2013 will be 24%, one percentage point less than in 2012, informs LETA/Nozare.lv.
 |
|---|
The personal income tax rate will be further reduced to 22% in 2014 and 20% in 2015.
The personal income tax reductions are laid down in amendments to the Law on Personal Income Tax that Saeima passed last year.
The government previously said that reducing taxes on labor was on one of its priorities.
Finance Minister Andris Vilks (Unity) notes that, at the moment, Latvia is the only country in the European Union reducing the tax burden on residents.
From July, monthly personal income tax breaks for dependants will also be increased from LVL 70 to LVL 80.
«The Baltic Course» Is Sold and Stays in Business!
