Personal Taxes

Youngster start profit won’t be topic to personal revenue tax in Latvia – Baltic Information Community

The benefit paid to employees in Latvia by employers when a child is born in their family will no longer be subject to personal income tax (PIT). This is provided by amendments to the Personal Income Tax Law passed in the final reading by the Saeima.

PIT will not be applied to employers’ paid benefits to their employees – up to EUR 250 per child born in their employees’ family. The benefit is to be paid within six months of the child’s birth, as BNN was told by Saeima’s press-service.

Until now, when employers decided to provide material support to their employees in the event of child birth, this support was subject to PIT.

Amendments suggest that this will apply to benefits paid for children born after 1 January 2022.

Saeima also passed amendments to the Personal Income Tax also provide for applying the seasonal farm workers income tax regime for people hired to collect stones from, areas under sowing plantations and grassland. Seasonal farm worker income tax rate is 15%. It was adopted in the past to reduce gray economy, employment of illegally employed people in the sector, as well as to reduce the administrative burden for employers.

Amendments also increase the period of time from 65 to 90 days, during which it is permitted to apply the special seasonal farm workers income tax regime.

Amendments to the tax regime will come to force on the next day after their promulgation. As for amendments to the removal of PIT from child birth benefits, they will come to force on 1 July 2022.

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