The Latvian government today upheld the legislative proposal for a differentiated personal income tax, starting with 2018. Under the draft amendments to the Law on Personal Income Tax approved by the Cabinet for the final reading in the parliament, the existing 23 percent tax will be replaced by differentiated tax rates at 20 per cent, 23 per cent and 31.4 per cent.
A 20 percent rate will apply to annual incomes up to EUR 20,000, a 23 per cent rate will apply to annual incomes from EUR 20,001 to EUR 55,000, and a 31.4 per cent rate to annual incomes of over EUR 55,000....
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