News about Latvia

Latvia could allow residents to pay personal taxes in cryptocurrency as early as next year, according to Didzis Dejus, an adviser to the prime minister, with the Finance Ministry having agreed to the plan while technical work with a payment provider remains. On October 15, parliament passed a law taxing withdrawals from crypto investment accounts that exceed deposits rather than individual trades, along with a one-time declaration process. Holders can settle past obligations by paying 10% of their declared assets' market value at the end of 2026, with declarations filed from April 1 to May 31, 2027 and tax due by July 23. Dejus said this would help people who bought crypto years ago but lack records of what they paid. Timing may depend on the next government, as Prime Minister Andris Kulbergs' United List won the October 3 election but still needs coalition partners.