The Latvian Parliament (Saeima) has issued a release announcing the passage on 2 December 2020 of the Law on the State Budget for 2021 and the Law on the Medium-Term Budget Framework for 2021, 2022, and 2023. According to the release, tax-related measures are relatively limited and include:
- A reduction in the rate of mandatory state social insurance contributions from 35.09% to 34.09%, including a 10.5% contribution rate for employees and a 23.59% contribution rate for employers;
- A reductio…