Lower social insurance contributions and a minimum amount of mandatory contributions to be introduced from 2021 (27.11.2020.)
On Friday, 27 November, the Saeima adopted in the final reading amendments to the Law On State Social Insurance, stipulating that social contributions will decrease by one percentage point and a minimum amount of mandatory contributions will be set for people whose income is lower than the minimum wage in the country, both for the general tax arrangement and other arrangements. The amendments are introduced as a part of the legislative package related to the State Budget for 2021.