Taxes in Latvia

01.01.2016.
Monthly non-taxable minimum 75.00 EUR
Monthly relief for a dependant 175.00 EUR
Monthly additional tax reliefs for a disabled person of Group II 154.00 EUR
Monthly additional tax reliefs for a disabled person of Group III 120.00 EUR
Minimum wages 370.00 EUR
Minimum hourly tariff rate 2.0109-2.2024 EUR
Minimum hourly tariff rate for teenagers 2.2981-2.5170 EUR
Personal income tax (payroll tax) 23%
Personal income tax for economic operators 23%
Minimum amount of the object of mandatory payments for a self-employed person 370.00 EUR
Rate of mandatory payments for a self-employed person 30.58%
Rate of mandatory payments for a self-employed person who has reached the age enabling to receive the State old-age pension 28.21%
Rate of mandatory payments for a physical person who manages immovable property and has registered as a taxpayer of the income obtained in economic activity 26.19%
Rate of mandatory payments if an employee is insured for all types of social insurance 34.09%
(23.59% / 10.50%)
Rate of mandatory payments for the persons entitled to receive the old-age pension 28.750%
(19.90% / 8.85%)
Rate of mandatory payments if an employee receives a long service pension or a disabled receives a state special pension 31.08%
(21.51% / 9.57%)
Non-taxable funeral benefit in case of death of an employee’s relatives 213.43 EUR
Non-taxable income from agriculture and rural tourism 3000 EUR
Value added tax 0% / 12%/ 21%
Corporate income tax 15%
Corporate income tax for non-residents 2-25%
Business risk fee 0.36 EUR
Immovable property tax 0.2%, 0.4% 0.6% and 1.5% of the cadastral value of immovable property
Electricity tax EUR 1.01 for a megawatt hour
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