The Latvian Ministry of Finance Dec. 21 announced various tax changes for 2025. The announcement includes measures to: 1) set the 2025 social security contribution rate at 23.59 percent for employers and 10.5 percent for employees; 2) introduce a two-step progressive individual income tax rate of 25.5 percent for income not exceeding 105,300 euros (US$109,405) per year, and 33 percent for income above 105,300 euros; 3) set a monthly single nontaxable minimum of 510 euros (US$529) for 2025, 550 euros (US$571) for 2026, and 570 euros (US$592) for 2027; 4) increase the tax rate to 25.5 percent from 20 percent ...
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