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Hiring guidelines in Latvia
- Pay & taxes
- Leave policy
- Termination
- Time-off
- Additional info
Pay & taxes
Leave policy
Termination
Time-off
Additional info
Minimum Wage Requirements
The minimum wage is EUR 700 per month starting January 1st 2024
Individual Income Tax
The individual income tax ranges from 20% to 31%. Income tax is calculated according to progressive rates.
| Gross Annual Income (EUR) | Tax Rate (%) |
|---|---|
| Up to EUR 20,004 | 20% |
| EUR 20,004 - EUR 78,100 | 23% |
| Above EUR 78,100 | 31% |
Payroll Cost
The employer cost is generally estimated at 24% of the employee salary.
- Employer Social Security Contribution - 23.5%
- Business risk fee per employee - €0.36
Please note: the Employer Social Security Contribution rate may change if the employee receives a retirement/disability/service pension from the state.
Overtime Pay & Maximum Hours
Overtime payment is mandatory. Hours outside of standard work hours are considered overtime. Employees can work a maximum of 8 hours of overtime per week.
Overtime cannot exceed 48 hours per month and 200 hours per year. For additional hours, employees are paid a minimum supplement of 100% of the hourly or daily wage rate.
Standard working hours are eight hours per day, 40 hours per week. The standard workweek is from Monday to Friday.
Overtime cannot exceed 48 hours per month and 200 hours per year. For additional hours, employees are paid a minimum supplement of 100% of the hourly or daily wage rate.
Standard working hours are eight hours per day, 40 hours per week. The standard workweek is from Monday to Friday.