Here is how Latvian Radio reported on the upcoming changes to the PIT at the end of November: "So far, there have been three rates – 20%, 23% and 31%, but from now on there will be two tax rates – 25.5% and 33%. These changes will also affect the capital gains tax, which will increase by 5.5%."
Capital gains tax must be paid on the difference between the sale price of an asset such as property, shares or a company, and the purchase price. Until now, the rate for capital gains was 2...