Income declaration in Latvia
Consulting Agency “Timur Ostrovskiy & partners” provides services on execution of personal annual income declaration, capital gain income declaration, and provides consultations on tax issues.
Law “On Personal Income Tax” in the Latvian Republic binds the individuals, in some cases, to declare their income and pay personal income tax.
Who pays the personal income tax:
1) the residents of Latvia, who have earned income in the last accounting year in Latvia and/or abroad;
2) non-residents of Latvia, who have earned income in the last accounting year in Latvia;
3) owners of individual enterprises, who have earned income in the last accounting year, which is not subject to the income tax;
4) owners of micro-enterprises in accordance with the law “On Micro-enterprise Tax”.
The cost of service on execution of declaration - 150 EUR.
The cost of consultation - 150 EUR per hour.