The centenary year with it brings a number of changes in tax policy, most of which are tied to the sweeping reform adopted last year, reports LSM's Latvian-language service.

For example, Latvia has moved to a differentiated income tax based on income. The lowest, 20% tax rate applies to annual incomes of up to €20,000. A rate of 23% now applies to annual incomes from €20,001 to €55,000, and a 31.4% rate to annual incomes of over €55,000. Previously the personal income tax stood at 23% for all earners. Tax-exempt differentiated minimum income will be increased to €200 a month, applied fully to wages of up to €1,000 a month.

About all the changes read here.

02.01.2018