According to CoinMeta, as reported by Coindesk, Latvian Prime Minister's advisor Didzis Dejus stated that the country plans to allow residents to use cryptocurrencies to pay personal taxes as early as 2027. The Ministry of Finance has agreed to this plan, but technical integration with payment service providers still needs to be completed. On October 15th, the Latvian Parliament passed a cryptocurrency tax reform bill that changes the taxation method from taxing each individual transaction to only taxing the portion of withdrawals from cryptocurrency investment accounts that exceeds the deposit principal. The new law also introduces a one-time declaration mechanism, allowing holders to settle past tax obligations by paying 10% of the market value of their assets as of the end of 2026. The declaration period is from April 1st to May 31st, 2027, and taxes must be paid in full by July 23rd.