Latvia Tax Agency Announces 2022 Tax Changes

The Latvian State Revenue Service Dec. 28 announced various tax changes for 2022. The announcement includes measures to: 1) provide an exemption for medical and catering expenses of up to 480 euros (US$546) annually, and for telework expenses up to 30 euros (US$34) per month; 2) tax royalty income up to 25,000 euros (US$28,419) at 25 percent, and above 25,000 euros at 40 percent; 3) provide increased excise tax rates for alcoholic beverages, tobacco products, e-liquids, and substitutes; and 4) provide a reduced 5 percent VAT rate on publications, periodicals in printed and electronic form, and subscription fees. [Latvia, State ...