On Thursday, 7 November, the Saeima adopted in the final reading the Law on the State Budget for 2014, the Law on Medium-Term Budget Framework for 2014–2016 and amendments to 37 budget-related laws.
Next year, the social insurance contribution rate will be set at 10.5%, the non-taxable minimum of the personal income tax will be raised to EUR 75 (LVL 52.71) and the tax relief to guardians will be EUR 165 (LVL 115.96).
The minimum salary will be increased to EUR 320 (LVL 225), while the personal income tax rate will remain at 24%.
Payments made from the Maintenance Guarantee Fund for a child up to 7 years of age will be EUR 71.14 (LVL 50) and for a child between 7 and 18 years of age – EUR 78.26 (LVL 55).
source of information: Saeima Press Service
