Latvia MOF Announces 2025 Labor Tax Proposal on Minimum Wage, Income Tax Rate Adjustments

The Latvian Ministry of Finance Sept. 9 announced a labor tax proposal on minimum wage and income tax rate adjustments. The announcement includes: 1) a fixed tax-free minimum for all salaries, starting at 510 euros (US$563) per month in 2025, increasing to 550 euros (US$607) in 2026, and increasing to 570 euros (US$629) in 2027; 2) an increase in the monthly minimum wage to 740 euros (US$817) from 700 euros (US$773) in 2025, which will increase to 780 euros (US$861) in 2026, to 820 euros (US$905) in 2027, and to 860 euros (US$949) in 2028; 3) a single personal income ...