SRS Penalty and Late Interest Calculator 2026 — Latvia
Calculate late-payment interest for a missed tax payment deadline, the fine for a late return and the penalty in a tax audit. Each result is separate, with the article it comes from.
- Checked 31 Oct 2026
- Source: Law on Taxes and Duties (version 15.10.2026–31.03.2027)
| Overdue amount | €1,000.00 |
|---|---|
| Due date (Friday) | 23 Oct 2026 |
| Payment | 3 Nov 2026 |
| Last calculation date | 1 Nov 2026 |
| Days calculated | 9 |
| Rate per day | 0.05% |
| Late-payment interest | €4.50 |
Cap: 40% of the overdue payment, here €400.00 (Art. 29(7)). This is not the total payable to the SRS: a fine is a separate calculation.
How €4.50 comes about
Payment into the unified tax account
- 23 Oct 2026 · due date
- 31 Oct 2026 · end of the due monthPayment after this date: the exception of Art. 29(2.²), point 1 does not apply.
- 1 Nov 2026 · calculation date
- 3 Nov 2026 · payment
- 15 Nov 2026 · next calculation dateInterest would be calculated on this date if the amount had not yet been paid.
According to the calculator’s assumptions (see “Assumptions” below).
How late-payment interest is calculated
The rate is 0.05% of the unpaid principal for each day late, unless the law on the specific tax sets other rates (Art. 29(2)). The procedure depends on whether the tax or payment is payable into the unified tax account (Art. 29(2.¹), (3)).
Payment into the unified tax account Art. 29(2.¹), (2.²)
Late-payment interest is calculated twice a month: on the 1st and 15th. It is not calculated if the overdue amount was received by the last date of the due month, or by the next calculation date (for the time from the last calculation date to the payment day). Separate cases concern a corrected or late-filed return (Art. 29(2.²), points 3 and 4).
Outside the unified account Art. 29(3), (3.¹)
Interest is not calculated if the budget received the tax payment within five working days after the due date. If not, it is calculated from the day after the due date to the payment day inclusive. If the deadline falls on a day off or a public holiday, the next working day is the payment day. This procedure does not apply to the unified tax account.
Cap Art. 29(7)
The calculation stops when the amount of interest reaches two fifths (40%) of the overdue payment. At 0.05% a day that is after 800 days.
Extension or instalments Art. 24(7)
In the extension (postponement, instalment) cases listed in Art. 24(7), interest is one quarter of the Art. 29(2) rate for each day, that is 0.0125%. If the payments are not made in full at the end of the extension and the deadline has not been extended again in the manner set by that article, the general procedure applies to the unpaid part for the whole period of delay. Under Art. 24(1), point 1, the reasoned written application is filed no later than five working days after the payment deadline; the other points have other deadlines.
Article 29 does not state several details, and the calculator assumes:
- one calculation on the 1st or 15th covers the days from the day after the due date up to and including that calculation date;
- a payment on the calculation date itself is received “by” that date, so nothing is calculated for the time since the previous calculation date;
- if the deadline is on a day off, the “month of the due date” is counted by the next working day (Art. 29(3.¹));
- in an extension case (Art. 24(7)) the same calculation dates and Art. 29 exceptions apply as in the general procedure;
- the calculator does not know public holidays (only Saturdays and Sundays); the amount is rounded once to the cent.
See the exact amount in EDS, the SRS electronic declaration system, and agree it with your accountant.
Fines for returns and audits
Late return Art. 141, 142
The fine is set in fine units by length of delay; one unit is 5 euro (Administrative Liability Law, Art. 16(2)). For tax returns the amount is the same for natural and legal persons. For information returns and notices on sums paid, Art. 142 sets other ranges.
Audit penalty Art. 32, 32.⁴, 33.²
In an audit, in addition to the tax and interest up to the audit start day (Art. 32(1)), a fine of 20% or 30% is imposed (paragraphs 4, 5) for each audited taxation period (paragraph 6). The 50% reduction (paragraph 7) and the doubling for a repeat violation (Art. 32.⁴) are separate conditions; correction is under Art. 33.².
Who it is for and what is not calculated
What it calculates
The general rate for taxes whose own law sets no other rate, and three calculations separately: late-payment interest, the fine for a late return (Art. 141, 142) and the penalty in a tax audit (Art. 32, 33.²). The results are not added together: they are separate calculations; in an audit interest is calculated and the fine imposed within the same audit (Art. 32(1)), but this tool calculates them separately.
What it does not calculate, for example
- suspension of the calculation of late-payment interest (Art. 29(4)–(6));
- the cases of Art. 29(2.²), points 3 and 4 (a corrected or late-filed return), partial payments and interest after the audit decision (Art. 32(8));
- late-payment interest rates set by other tax laws (Art. 29(2));
- a force majeure case (Art. 24(1), point 4);
- the split of payments between principal and interest (Art. 24(6));
- an unjustified increase of a refund (Art. 32(2)), a person who cannot be identified (Art. 32(5.²)) and a five-year instalment plan (Art. 24(1), point 3);
- the 100% fine for an employee without a contract (Art. 32(5.¹)), the assessment of whether a violation is a repeat (Art. 32.⁴(2)) and fines under other laws.
Frequently asked questions
How much is the late-payment interest?
0.05% of the unpaid principal for each day late, unless the law on the specific tax sets other rates (Law on Taxes and Duties, Art. 29(2)).
Is there a maximum amount of late-payment interest?
The calculation of late-payment interest stops when its amount reaches two fifths (40%) of the overdue payment (principal) (Art. 29(7)).
When is late-payment interest not calculated?
In the unified tax account it is not calculated if the overdue amount was received by the last date of the month of the due date, or by the next calculation date (for the time from the last calculation date to the payment day), and in the cases of points 3 and 4 of Art. 29(2.²). In other cases — if the budget received the amount within five working days after the due date (Art. 29(3)).
What happens if the payment deadline falls on a day off?
If the payment deadline set by legislation falls on a day off or a public holiday, the next working day is the payment day (Art. 29(3.¹)).
How large is the fine for a late return?
For a tax return: 3–10 days — a warning or 5–14 fine units (€25–70; exception: an EDS monthly or quarterly return late once, up to five days, in a 12-month period), 11–20 days — 15–30 units, 21–30 days — 31–56, more than 30 days or not filed — 57–140 units; one unit is 5 euro (Law on Taxes and Duties, Art. 141; Administrative Liability Law, Art. 16(2)). Information returns — Art. 142.
What is the penalty in a tax audit?
For a tax reduction found in an audit the fine is 20% of the undeclared tax if the reduction does not exceed 15% of the amount to be declared, and 30% if it does (Art. 32(4), (5)). If the violation is not a repeat, the return filing and current payment deadlines were met and the payer cooperated, the fine is 50% of the fine set in paragraphs 4 and 5 (Art. 32(7)); for a repeat violation it is doubled (Art. 32.⁴).
What does correcting a return give?
The payer has the right to correct a return and pay the reduced tax and late-payment interest up to the payment day if no tax control invoice has been issued for the period and the tax (Art. 33.²(1)). If the correction is filed by the audit start day after the audit-start notice was received, a further 5% of the reduced tax applies (paragraph 2).
The results are indicative
The calculator gives an approximate result for information purposes and is not individual tax or accounting advice. The actual amounts may depend on your tax type, how the payment is made (unified account or other case), SRS decisions. Our recommendation: agree the result with an accountant or the State Revenue Service (SRS) before you rely on it.
Need a precise calculation? Contact a Balansis accountant →