DECLARATION OF NON-TAXABLE INCOMEResidents of Latvia gained non-taxable income in amount of quadruplicate minimum of non-taxable income determined for the taxation year (in year 2009 - 3000 lats, from year 2010 - 1680 lats), till April 1, shall submit to SRS the Declaration of personal annual income.
The kinds of non-taxable income are listed in the article 9 of the Law on Personal Income Tax (see the section „Laws and regulations”), including:
income from agricultural production and the rendering of rural tourism services, if it does not exceed 4000 lats a year;
income from individual undertaking - an enterprise income tax payer;
income from dividends of Latvian or the European Union companies, if the enterprise income tax is paid form their profit;
income from savings and deposits in credit institutions and savings and loan associations of Latvia and the European Union, as well as income from insurance indemnity;
prizes of lotteries and gambling, according to the order settled by the Cabinet of Ministers;
inheritance and gifts from physical persons;
allowance (alimony) and sums received by a judgment of a court in connection with a divorce;
income from alienation one’s own property, except the income from:
a) selling of products (goods) produced or obtained for sale,
b) alienation of a forest growing on the property of a natural person which has been in the possession of a person for more than 36 months,
d) repurchase of employee stocks,
e) selling of such immovable property which has been in the possession of a person for more than 12 months.
This information is actual for the income gained in year 2009. From January 1st 2010 there are significant changes in non-taxable income!
„INNOVATOR” LTD. will render you the tax consultations in composing and filling of annual declaration of income. In the section „PIT declaration form” you can fill an Annual declaration of income.
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