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2023-06-04 03:46:22

Government agrees on additional tax hikes

By Editor. 23.11.2009

The Cabinet of Ministers, has come to agreement on additional tax hikes in order to cover the needed LVL 57.4 million in the 2010 national budget.

The personal income tax rate will be raised from 23 percent to 26 percent. Also, a progressive real estate property tax will be introduced, and the annual duty for motor vehicles increased. For companies making profit exceeding LVL 5 million, a 25 percent tax will be set, revoking the current 15 percent, informed LETA.

Capital gains will look at a 15 percent tax rate. In mid-2010, there will be a new tax for natural gas used for heating purposes.