This salary calculator helps you to get a net salary from gross salary and vice versa using SRS data in Latvia.
|Net salary (take-home)||716.00 EUR|
|Social tax||10.5%||105.00 EUR|
|Personal income tax||20%||179.00 EUR|
|Social tax, employer's part||23.59%||235.90 EUR|
|Business risk fee||0.36 EUR|
|Total employer's expenses||1236.26 EUR|
Differentiated non-taxable minimum
In the field "non-Taxable minimum" is specified "0", because now it is not a fixed data, you have to specify this minimum in accordance with the data of the SRS or taxpayer's predicted minimum.
The maximum non-taxable minimum per year is:
- In 2023 — €6000;
- In 2022 — €5100:
- 01/01-30/06 — €2100,
- 01/07-31/12 — €3000;
- In 2020-2021 — €3600.
The non-taxable minimum is €0:
- In 2021-2023 — if the annual taxable income is more than €21600, for example, the salary is €1801 per month.
Progressive monthly income tax rate
The rate of 20% on monthly income is up to €1667.
The rate of 23% on the part of the monthly income after €1667.
Progressive annual income tax rate
The rate of 20% on annual income up to €20004.
In 2022/2023 the rate of 23% on the part of annual income exceeding €20004 and up to €78100.
In 2021 the rate of 23% on the part of annual income exceeding €20004 and up to €62800.
In 2022/2023 the rate of 31% on the annual income exceeding €78100 when filing the annual Declaration.
In 2021 the rate of 31% on the annual income exceeding €62800 when filing the annual Declaration.
The minimum wage within the normal working time is:
- In 2023 is €620 per month;
- In 2021/2022 is €500 per month.
The minimum wage is defined in the Cabinet of Ministers Regulation No. 656.
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