Low tax and no tax countries

Low tax and no tax countries

Payments which are sent to low tax and no tax countries are taxable with Corporate Income Tax or Profit tax – 15%. In some cases it possible to get permission to be exempted from tax paying. In such case one must prove that the aim of payment is not aimed to reduced tax or avoid fully tax payment which must be paid in Latvia.

According to regulations issued by the Cabinet of Ministers about low tax and no tax countries and territories these countries and territories are considered as low tax or no tax countries:

List of countries and territories which in Latvia are considered as tax-exempt or low tax countries and territories:

  • Andorra
  • Anguilla (United Kingdom of Great Britain and Northern Ireland)
  • Antigua and Barbuda
  • The Antilles Netherlands
  • United Arab Emirates
  • Aruba (Netherlands)
  • U.S. Virgin Islands
  • The Commonwealth of the Bahamas
  • Bahrain
  • Barbados
  • Belize
  • Bermuda (United Kingdom of Great Britain and Northern Ireland)
  • British Virgin Islands
  • Brunei
  • The Commonwealth of Dominica
  • Jersey (United Kingdom of Great Britain and Northern Ireland)
  • Djibouti
  • The Republic of Ecuador
  • Guernsey (United Kingdom of Great Britain and Northern Ireland)
  • Gibraltar (United Kingdom of Great Britain and Northern Ireland)
  • Grenada
  • Guam (USA)
  • Republic of Guatemala
  • Hong Kong (China)
  • Jamaica
  • New Caledonia (French Republic)
  • Jordan
  • Cayman Islands (United Kingdom of Great Britain and Northern Ireland)
  • State of Qatar
  • Republic of Kenya
  • The Republic of Costa Rica
  • Cook Islands (New Zealand)
  • Kuwait
  • Labuan (Malaysia)
  • Republic of Lebanon
  • The Republic of Liberia
  • The Principality of Liechtenstein
  • Macau (China)
  • Republic of Maldives
  • The Republic of Mauritius
  • Republic of Marshall Islands
  • Isle of Man (United Kingdom of Great Britain and Northern Ireland)
  • The Principality of Monaco
  • Montserrat (United Kingdom of Great Britain and Northern Ireland)
  • The Republic of Nauru
  • Niue (New Zealand)
  • Alderney (United Kingdom of Great Britain and Northern Ireland)
  • The Republic of Panama
  • Independent State of Samoa
  • San – Marino
  • Democratic Republic of Sao Tome and Principe
  • The Republic of Seychelles
  • Saint Pierre and Miquelon (French Republic)
  • The Federation of Saint Kitts and Nevis
  • Saint Lucia
  • St. Vincent and the Grenadines
  • St. Helena (United Kingdom of Great Britain and Northern Ireland)
  • Tahiti (French Polynesia)
  • Turks and Caicos Islands (United Kingdom of Great Britain and Northern Ireland)
  • Kingdom of Tonga
  • Eastern Republic of Uruguay
  • The Republic of Vanuatu
  • Republic of Venezuela
  • Islands of Zanzibar (United Republic of Tanzania)