Most banks in Latvia will be eligible for rebates on so-called solidarity tax payments in 2025, according to the Bank of Latvia, LETA reports. The central bank noted that the growth of lending has been appreciably faster in 2025. Therefore, most banks will qualify for discounts on their solidarity contributions, amounting to 25-100%. The new tax came into effect as of 1 January 2025, requiring credit institutions to pay solidarity contributions for three years. Banks are eligible for tax rebates if their lending growth reaches a certain rate.
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