Salary calculator
This salary calculator helps you to get a net salary from gross salary and vice versa using SRS data in Latvia.
Calculation result
| Net salary (take-home) | 712.00 EUR | |
| Social tax | 11% | 110.00 EUR |
| Personal income tax | 20% | 178.00 EUR |
| Social tax, employer's part | 24.09% | 240.90 EUR |
| Business risk fee | 0.36 EUR | |
| Total employer's expenses | 1241.26 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 2023/2024 — €6000 (€500 monthly);
- In 2022 — €5100:
- 01/01-30/06 — €2100,
- 01/07-31/12 — €3000;
- In 2020-2021 — €3600.
- In 2019 — €2760.
The non-taxable minimum is €0:
- In 2021-2024 — if the annual taxable income is more than €21600, for example, the salary is €1801 per month.
- In 2019 — if the annual taxable income is more than €13200, for example, the salary is €1101 per month;
- In 2020 — if the annual taxable income is more than €14400, for example, the salary is €1201 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 2022-2024 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 2018-2020 the rate of 31.4% on the annual income exceeding €62800 when filing the annual Declaration.
In 2022-2024 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.
Minimum wage
The minimum wage within the normal working time is:
- In 2024 is €700 per month;
- In 2023 is €620 per month;
- In 2021/2022 is €500 per month.
- In 2019 is €420 per month;
- In 2020 is €420 per month.
The minimum wage is defined in the Cabinet of Ministers Regulation No. 656.
From January 1, 2024, employees of micro-enterprises who simultaneously receive income subject to personal income tax will receive a non-taxable minimum and benefits for dependents.
Thanks to everyone who helps to improve this salary calculator!