Latvia published the Social Contribution Law in the Official Gazette on 19 December 2024, which provides for the introduction of a temporary solidarity contribution on credit institutions to fund national security. The contribution applies for 2025, 2026, and 2027. The contribution rate is 60%, levied on a credit institution's calendar year net interest income that exceeds the average annual net interest income calculated for five financial years (from 2018 to 2022) by more than 50%. Advance…