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Ministries propose changes in differentiated non-taxable minimum income and personal income tax rates
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    News

    Ministries propose changes in differentiated non-taxable minimum income and personal income tax rates

    RIGA, Feb 12 (LETA) - In the context of upcoming tax changes, ministries propose to change differentiated non-taxable minimum income and personal income tax rates,  according to the proposal on tax policy guidelines for 2021-2025. 

    At the same time, the minimum monthly wage will be increased from the current EUR 430 to EUR 500 starting from 2021.

    This is a proposal prepared by ministries, and it might change during negotiations with social partners.

    The government's action plan includes a task for the Finance Ministry to prepare guidelines for medium-term taxation policy by May 31. The goal of these guidelines is support to improvement of the quality of life of the residents, national economic growth and international competitiveness.

    The proposal prepared by ministries includes two possible scenarios for progressive personal income tax and a number of variants in each of the scenario.

    The Welfare Ministry also proposes to include revision of the minimum monthly wage in the discussions of the annual and medium-term budget on a regular basis.

    • Published: 12.02.2020 13:26
    • Raivis Spalvens, LETA
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