Introducing EUR in Latvia

Government of Latvia on year 2013 plan to make campaign on promoting good will of euro. It is because there are plans that starting from 2014 Latvia plan to introduce euro as main currency in Latvia.
For example - introducing euros instead of Latvian Lats poeple think that there can bes lost Latvian identity. But it does not mean so because there will national folk daugther's symbol, on two euro coin there will be first line of anthem of Latvian. We can also see that other European Union countries which introduced euro such as Germany, France, Italy, Estonia and even smallest Vatikan has not lost their identity by using euro instead of crones and franks etc.
Important thing is that since euro will introduced, there will not be fear of devaluation of Latvian Lats. It is also as safatey guarantee for foreign investors, who sometime are not sure about this risk. But since there will be euro in Latvia also foreign investors will be more sure about investment stability.

Social security rate in Latvia cut for 2014; income tax to remain at 24%

Saeima of Latvia, reading the amendments to several laws the final time, voted for retaining personal income tax in 2014 at the current rate, instead – bringing down social security obligatory contributions, and increasing tax breaks for those with dependants, also, increasing the non-taxable minimum.

For employees, the social payment rate will be decreased from 11% to 10.5%, for employers – from 24.09% to 23.59%.

The personal income tax rate next year will hold steady at 24% and be slashed to 22% in 2016.

Tax breaks for each dependant will be boosted from 80 to 116 lats next year (165 euro), while the non-taxable minimum will be raised from 45 to 53 lats (75 euro).