Latvian Parliament Approves 2024 Budget Including 20% Tax Surcharge on Credit Institutions

Latvia's Ministry of Finance has announced that the Saeima (parliament) approved the 2024 state budget in its final reading on 9 December 2023, along with 19 accompanying laws. Some of the main amendments are summarized as follows:

• Amendments to the Personal Income Tax Law mainly targeted at employees, including:
  • the exemption of an employee's income from payroll tax if the employer pays the employee's tuition fees for higher education and studies related to the acquisition of skills that a…