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| | | Business in Latvia General information Latvia is a democratic parliamentary republic. Latvia is situated on the eastern coast of the Baltic Sea. Borders with other countries: Estonia, Russia, Belarus, Lithuania. Area: 64,589 km2 Population: about 2,400,000 The national currency is the lats (LVL), which consists of 100 santims. Approximate currency rates (Latvianlats/currency) - 0,68 LVL/1 EUR; 0,53 LVL/1 USD; 0,92 LVL/1 GBP. Minimal salary (per month) - 80 LVL. Approximate taxes from salary 80 LVL - 44,67 LVL. |
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| Taxes Income tax for natural persons 25% Income tax for natural persons 15% Variable tax amount 18%, 9% and 0% Social security payment not higer than 33,09% Immovable property tax 1,5% Excise tax Natural resources tax Lottery and gambling tax Customs duty Residence in Latvia Persons, with following status have rights to reside in Latvia, if other requirements are fulfilled: - An individual merchant (businessman) or a sole founder of a commercial company registered in the Commercial Register - An officer of a partnership with the signatory rights registered in the Commercial Register - Self-employed person - A member of the Council or the Board of a capital company registered in the Commercial Register Refer - Person, who invested not less than 600 000 LVL in the share capital of a capital company - A representative of a foreign company
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