Latvia published the Law on Amendments to the Personal Income Tax Law in the Official Gazette on 10 December 2024. The Law includes including amendments announced earlier as part of the tax plans for 2025: The replacement of the current individual income tax rates (20%, 23%, and 31%) with a rate of 25.5% on income up to the maximum basis for social security contributions (EUR 105,300 per year according to earlier release), and a rate of 33% on income exceeding that amount; An increase in the flat income tax rate on capital income from 20% to 25.5%; An increase in...