About Latvia » Taxes in Latvia
Information about taxes in Republic of Latvia
Value added tax (VAT)
Most of goods and services are taxed with 22% but there are exceptions and some specific goods and services are taxed with 10% VAT.
Personal income tax
Personal income tax is 25% from private incomes.
Corporate income tax
Corporate income tax to companies is 15%.
Losses
Losses for company of previous periods can be carried forward for five years.
Tax rates in European Union
Here you can see comparison of main taxes in European Union:
| Country | Income tax | VAT | |
| Corporate | Individual | ||
| Austria | 25% | 21-50% | 20% |
| Belgium | 33,99% | 25-50% | 21% |
| Denmark | 25% | 38-59% | 25% |
| Estonia | 21% | 20% | 18% |
| Finland | 26% | 7-30,5% | 22% |
| France | 33,33% | 5,5-40% | 19,6% |
| Germany | 30-33% (effective) | 15-45% | 19% |
| Hungary | 16% | 18% and 36% | 20% |
| Italy | 31,4% | 23-43% | 20% |
| Latvia | 15% | 25% | 22% |
| Lithuania | 20% | 15% / 20% | 19% |
| Norway | 28% | 28-49% | 25% |
| Poland | 19% | 18% / 32% | 22% |
| Portugal | 25% | 0-42% | 20% |
| Spain | 30% | 24-43% | 16% |
| UK | 28% | 0-40% | 15% |
Total tax weight in Latvia which forms from all the taxes including Social insurance tax is 30,5% from GDP. It is one the lowest index via 27 EU countries. Average tax weight is 39,8% from GDP. The highest tax weight are in Denmark – 48,7%, Sweden – 48,3%, Belgium – 44%, France and Italy – 43,3% from GDP.
If You need immigration services or other legal services, please contact us
Tel. (371) 29 112 333
e-mail: visas@visas.lv
