Taxes in Latvia

About Latvia >> Taxes in Latvia

Information about taxes in Republic of Latvia

Value added tax (VAT)

Most of goods and services are taxed with 21% but there are exceptions and some specific goods and services are taxed with 12% VAT.

Personal income tax

Personal income tax is 23% from private incomes.

Corporate income tax

Corporate income tax to companies is 15%.

Losses

Losses 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% 23% 21%
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%

Please feel free to contact us if you would like to get more information about taxes in Latvia.
Tel. (371) 29 112 333
e-mail: info@register-company.lv