Facts
- Combined corporate income tax rate
- 20.0 % (2023)
- Top statutory personal income tax rate
- 31.2 % (2022)
- Tax revenue, % of GDP
- 17.6 % (2024)
- Top marginal rate incl. employee social security
- 31.4 % (2022)
- OECD member
- Yes
- Corporate income tax rate, central government
- 20.0 % (2023)
- Central CIT rate net of sub-central deduction
- 20.0 % (2023)
- Top marginal income tax rate (PIT only)
- 30.9 % (2022)
- Top rate threshold, × average wage
- 4.66× (2022)
- Average annual wage, US$ PPP
- $35,142 (2022)
- Average annual wage, national currency
- 16,758 (2022)
- Tax revenue level
- 15–20% of GDP
- Taxes on income, profits and capital gains, % of revenue
- 20.8 % (2024)
- Taxes on goods and services, % of value added
- 16.7 % (2024)
- ISO code
- LVA
Sources: OECD Corporate Tax Statistics, OECD Tax Database, World Bank WDI (CC BY 4.0)
Tax revenue, % of GDP
| Period | Value |
|---|---|
| 2024 | 17.6 % |
| 2023 | 16.6 % |
| 2022 | 17.1 % |
| 2021 | 16.4 % |
| 2020 | 16.3 % |
| 2019 | 16.2 % |
| 2018 | 16.2 % |
| 2017 | 17.2 % |
| 2016 | 17.2 % |
| 2015 | 16.4 % |
| 2014 | 16.2 % |
| 2013 | 15.9 % |
Taxes on income, profits and capital gains, % of revenue
| Period | Value |
|---|---|
| 2024 | 20.8 % |
| 2023 | 17.7 % |
| 2022 | 15.8 % |
| 2021 | 15.4 % |
| 2020 | 13.1 % |
| 2019 | 11.9 % |
| 2018 | 11.1 % |
| 2017 | 18.6 % |
| 2016 | 18.3 % |
| 2015 | 17.4 % |
| 2014 | 17.4 % |
| 2013 | 18.2 % |
Taxes on goods and services, % of value added
| Period | Value |
|---|---|
| 2024 | 16.7 % |
| 2023 | 16.2 % |
| 2022 | 17.5 % |
| 2021 | 16.7 % |
| 2020 | 17.0 % |
| 2019 | 17.2 % |
| 2018 | 17.4 % |
| 2017 | 16.8 % |
| 2016 | 16.8 % |
| 2015 | 16.0 % |
| 2014 | 15.9 % |
| 2013 | 15.4 % |
Corporate income tax rate, central government
| Period | Value |
|---|---|
| 2023 | 20.0 % |
| 2022 | 20.0 % |
| 2021 | 20.0 % |
| 2020 | 20.0 % |
| 2019 | 20.0 % |
| 2018 | 20.0 % |
| 2017 | 15.0 % |
| 2016 | 15.0 % |
| 2015 | 15.0 % |
| 2014 | 15.0 % |
| 2013 | 15.0 % |
| 2012 | 15.0 % |
Combined corporate income tax rate
| Period | Value |
|---|---|
| 2023 | 20.0 % |
| 2022 | 20.0 % |
| 2021 | 20.0 % |
| 2020 | 20.0 % |
| 2019 | 20.0 % |
| 2018 | 20.0 % |
| 2017 | 15.0 % |
| 2016 | 15.0 % |
| 2015 | 15.0 % |
| 2014 | 15.0 % |
| 2013 | 15.0 % |
| 2012 | 15.0 % |
Average annual wage, US$ PPP
| Period | Value |
|---|---|
| 2022 | $35,142 |
| 2021 | $31,759 |
| 2020 | $28,345 |
| 2019 | $25,779 |
| 2018 | $24,221 |
| 2017 | $22,661 |
| 2016 | $20,927 |
| 2015 | $19,270 |
| 2014 | $17,871 |
| 2013 | $16,560 |
| 2012 | $15,598 |
| 2011 | $15,310 |
Year by year · 30
| Country-year | Combined corporate income tax rate | Top statutory personal income tax rate | Tax revenue, % of GDP |
|---|---|---|---|
| Latvia 2024 | — | — | 17.6 % |
| Latvia 2023 | 20.0 % | — | 16.6 % |
| Latvia 2022 | 20.0 % | 31.2 % | — |
| Latvia 2021 | 20.0 % | 31.2 % | — |
| Latvia 2020 | 20.0 % | 31.6 % | — |
| Latvia 2019 | 20.0 % | 31.6 % | — |
| Latvia 2018 | 20.0 % | 35.3 % | — |
| Latvia 2017 | 15.0 % | 23.0 % | — |
| Latvia 2016 | 15.0 % | 23.0 % | — |
| Latvia 2015 | 15.0 % | 23.0 % | — |
| Latvia 2014 | 15.0 % | 24.0 % | — |
| Latvia 2013 | 15.0 % | 24.0 % | — |
| Latvia 2012 | 15.0 % | 25.0 % | — |
| Latvia 2011 | 15.0 % | 25.0 % | — |
| Latvia 2010 | 15.0 % | 26.0 % | — |
| Latvia 2009 | 15.0 % | 23.0 % | — |
| Latvia 2008 | 15.0 % | 25.0 % | — |
| Latvia 2007 | 15.0 % | 25.0 % | — |
| Latvia 2006 | 15.0 % | 25.0 % | — |
| Latvia 2005 | 15.0 % | 25.0 % | — |
| Latvia 2004 | 15.0 % | 25.0 % | — |
| Latvia 2003 | 19.0 % | 25.0 % | — |
| Latvia 2002 | 22.0 % | 25.0 % | — |
| Latvia 2001 | 25.0 % | 25.0 % | — |
| Latvia 2000 | 25.0 % | 25.0 % | — |
| Latvia 1999 | — | — | 16.4 % |
| Latvia 1998 | — | — | 17.1 % |
| Latvia 1997 | — | — | 16.1 % |
| Latvia 1996 | — | — | 13.5 % |
| Latvia 1995 | — | — | 14.0 % |