The applicable tax rate on interest income is 10 %.

The law provides that tax on income from deposit interest should be paid on the day of gaining income, namely at the moment of disbursement of interest, starting from 1 January 2010. This means that you are, for example, a depositor of a simple deposit who has chosen a monthly interest disbursement. SEB banka automatically deduct the tax once in a month at the moment of disbursement of the interest on deposit. The same also refers to the owners of the special deposit who have disbursement of interest every month by adding them to the principal amount of the deposit. The tax is automatically deducted for you once in a month. The tax of the owners of short-term deposits is deducted by the bank at the end of the deposit period when interest is disbursed according to the contractual terms and conditions.

The applicable tax rate on interest income is 10 %.

The law provides that tax on income from deposit interest should be paid on the day of gaining the income, namely at the moment of disbursement of interest, starting from 1 January 2010. This means that SEB banka automatically deduct the tax at the moment of disbursement of additional profit and/or guaranteed interest (if any are stipulated for the given deposit offer), which in the given case is the final date of the deposit period. If SEB banka announces a particular Repurchase Offer for any of the Progressive Deposit offers, as a result of which you will gain profit before the end of the deposit period, then tax withholding will take place automatically at the moment of the deposit Repurchase, at which time you will be paid additional interest on profit (and/or also including the guaranteed interest, if any, for the given offer). When fixing the gained income from deposit in the Progressive deposit, the risk premium and other costs connected to gaining this income are not taken into account according to the law.

The applicable tax rate on interest income is 10 %.

The law provides that tax on income from deposit interest should be paid on the day of gaining the income, namely at the moment of disbursement of interest, starting from 1 January 2010. This means that SEB banka automatically deduct the tax at the moment of disbursement of interest, which according to the contract takes place once in a quarter.

The applicable tax rate on interest income is 10 %.

The law provides that tax on income from deposit interest should be paid on the day of gaining the income, namely at the moment of disbursement of interest, starting from 1 January 2010. This means that SEB banka automatically deduct the tax at the moment of disbursement of interest, regardless of the age of the child.

The applicable tax rate is 10 %.

All dividends are divided into two parts:

• dividends paid by Latvian and foreign public stock companies;
• other dividends.

Tax encashment from dividends paid by Latvian public stock companies is automatically completed by SEB banka at the moment of disbursement of these dividends by transferring the amount of dividends without tax into the shareholder's bank account. But situation with dividends paid by foreign public stock companies is a bit different. If SEB banka have information about amount of tax, which is already colleted in foreign country, SEB banka will not collect tax again. But, if the tax rate paid in foreign country will be less than tax rate in Latvia, SEB banka will collect distinction of the tax. If SEB banka will not have information about collected tax, tax will be collected according to the law. The tax encashment from other dividends will be the liability not of the bank, but the liability of the specific company which is paying out these dividends.

In relation to private pension funds, the law "On Personal Income Tax" sets that tax on income from capital is applied at the moment of disbursement of the private pension capital on the profit gained as a result of pension plan fund management (namely on the difference between the accrual at the end of the term and the made contributions) whose rate is 10 %. Tax withholding at the moment of disbursement is done by the SEB pension fund.

In relation to the life insurance, the law "On Personal Income Tax" sets that at the moment of disbursement of the endowment life insurance accrual – at the end of the insurance period or in the case of pre-term termination of the contract – the positive difference between the disbursed accrual and the paid insurance premiums is subject to tax on income from capital whose rate is 10 %. Tax withholding at the moment of disbursement of the accrual is done by SEB life insurance.

The applicable tax rate is 15 %.

You have to calculate the growth of capital from investment funds as a difference between the purchase and sales price of the funds. The purchase price of the funds may also include expenses for the purchase of investment certificates. If as a result of the transaction you have not gained any profit, then you not have to pay the tax on the growth of capital. The law "On Personal Income Tax" also stipulate the possibility for losses to be covered by the profit gained in the event one capital asset will have suffered losses, but the other has worked at a profit. This, however, is possible only within one taxation year.

Take into account that:

• if you have investment certificates that have been purchased by 31 December, 2009, and have been your property for at least 60 months, then you are entitled to submit a declaration until 31 December, 2014, to refund the personal income tax (Clause 50 of the Transitional Regulations of the Law "On Personal Income Tax").
• if you currently sell investment certificates that have been purchased by 31 December, 2009, you must fix the growth of capital from investment fund certificates by deducting the investment fund's purchase value from the no investment fund's sales value and dividing by the number of months of the entire investment fund's holding time and multiplying it with the number of months from 1 January, 2010, until the month of sale, including (Clause 51 of the Transitional Regulations of the Law "On Personal Income Tax").

Payment of taxes on income from the growth of capital is the liability of the depositor. Any person who gains income from the growth of capital once in a quarter (if the gained profit is from 100,01 to LVL 500), once in a month (if the gained profit is above LVL 500) or till 15th of January of next taxation year (if the gained profit is less than LVL 100) should declare the gained income to the SRS and afterwards the respectively calculated tax paid by himself within 15 days from submission of the declaration into the national budget.

The applicable tax rate is 15 %.

The growth of capital from securities should be calculated as a difference between the purchase and sales price. The securities purchase price can also include expenses for the purchase and holding of securities. If you have not gained any profit as a result of the transaction, then you have not to pay a tax on the growth of capital. The law "On Personal Income Tax" also stipulate a possibility that, in the event one capital asset will have suffered losses, but the other has worked at a profit, then losses may be covered by the profit gained, but it is possible within one taxation year. The law stipulate an exception that the tax is not withheld on municipal promissory notes of Latvian and EU Member States or EEC zone countries.

Payment of taxes on income from the growth of capital is the liability of the depositor. Any person who gains income from the growth of capital once in a quarter (if the gained profit is from 100,01 to LVL 500), once a month (if the gained profit is above LVL 500) or till 15th of January of next taxation year (if the gained profit is less than LVL 100) should declare the gained income to SRS and afterwards the respectively calculated tax paid by himself within 15 days from submission of the declaration into the national budget.