8.01.2021. Latvia, changes of taxes in 2021

Company News

Employees taxes
Minimum salary per month (gross) – 500 EUR
Social insurance taxes, total: 34.09 % (employer – 23,59%, employee – 10,50%)
Personal income tax: annual income till 20 004 EUR- 20%; 20 005- 62 800 EUR – 23%;
more than 62 800 EUR – 31%.
Untaxed minimum (max) – 300 EUR, not applicable if salary more than 1800 EUR
Personal income tax
The patent payment regime has been abolished while maintaining the reduced patent payment arrangements for pensioners and persons with group 1 and group 2 disabilities.
From 01.07.2021, changes to the income of royalties come into force.
Micro enterprises tax
Remarkable changes. From 01.01.2022 MUN payer becomes the UIN( corporate tax) payer.