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 will 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 will automatically deduct the tax at the moment of disbursement of interest, regardless of the age of the child.

In respect to the accruals in the private pension funds, the amendments to the law stipulate several changes:

• Tax relief limit for contributions into the pension fund and/or endowment life insurance instead of the former 20 %, further will be separated 10 % for contributions in the pension fund and 10% - for endowment life insurance starting from 1 January 2010. But for both mentioned investment types and for donations to social gain companies together not more than 20% of your annual gross income.
• The Personal income tax (PIT) rate will also change, which will now be 26 % instead of the former 23 %. This means that you will receive a PIT tax repayment in the amount of 26 % for contributions that are carried out in the pension fund starting 1 January, 2010, and do not exceed 10 % of your annual gross income.
• Tax on income from capital will be 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 will be done by the SEB pension fund; you will not need to carry out any additional activities.

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 will not have to pay the tax on the growth of capital. Amendments to the law 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, will be 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, 2013, to refund the personal income tax, as it was in the previous wording of the law (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 below LVL 500) or once in a month (if the gained profit is above LVL 500) 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.

Additional information about the procedure of personal income tax calculation on income from the growth of capital is available in the State Revenue Service offices!