Latvia's Ministry of Finance has issued a release on various tax plans for 2025 and future years, including proposed individual income tax changes. This includes replacing the current individual income tax rates (20%, 23%, and 31%) with a rate of 25.5% on income up to EUR 105,300 per year, and a rate of 33% on income exceeding that amount. It is also planned to set a fixed tax-free minimum (allowance) for all salaries in the amount of EUR 510 per month, increased to EUR 550 in 2026 and EUR 57…