Taxes on income, profits and capital gains (% of revenue) in Latvia
Latvia: Taxes on income, profits and capital gains (% of revenue) was 10.3% in 2024. ▼ Falling
Taxes on income, profits and capital gains in Latvia, 1994–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on income, profits and capital gains in Latvia stood at 10.3%.
Compared with earlier readings it is up 18.5% on the previous year and up 13.0% over ten years.
Over the whole period, taxes on income, profits and capital gains in Latvia peaked at 15.6% in 2008 and was at its lowest, 5.7%, in 2018.
That places Latvia 131st out of 153 countries with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 31 years of available data.
Taxes on income, profits and capital gains (% of revenue) in Latvia, year by year
| Year | % of revenue | Change |
|---|---|---|
| 1994 | 15.6% | — |
| 1995 | 5.9% | -62.3% |
| 1996 | 6.6% | +11.7% |
| 1997 | 11.4% | +72.9% |
| 1998 | 11.8% | +3.7% |
| 1999 | 11.8% | +0.2% |
| 2000 | 11.2% | -5.5% |
| 2001 | 12.9% | +15.9% |
| 2002 | 13.3% | +3.0% |
| 2003 | 11.6% | -12.6% |
| 2004 | 12.2% | +4.5% |
| 2005 | 12.2% | +0.3% |
| 2006 | 12.2% | -0.3% |
| 2007 | 13.7% | +12.7% |
| 2008 | 15.6% | +13.9% |
| 2009 | 8.7% | -44.1% |
| 2010 | 7.4% | -15.3% |
| 2011 | 8.1% | +9.2% |
| 2012 | 9.1% | +12.9% |
| 2013 | 9.3% | +2.5% |
| 2014 | 9.1% | -2.9% |
| 2015 | 9.3% | +2.2% |
| 2016 | 10.2% | +10.3% |
| 2017 | 10.3% | +0.7% |
| 2018 | 5.7% | -44.9% |
| 2019 | 6.1% | +7.1% |
| 2020 | 6.4% | +5.6% |
| 2021 | 7.8% | +21.6% |
| 2022 | 8.4% | +7.3% |
| 2023 | 8.7% | +3.1% |
| 2024 | 10.3% | +18.5% |
Latvia compared with similar countries
- Latvia's 10.3% is below the median for high income countries, which is 24.5%, 42% of the median. (55 countries reporting)
- Latvia's 10.3% is below the median for Europe & Central Asia, which is 20.9%, 49% of the median. (48 countries reporting)
Biggest year-on-year movements
Years where Taxes on income, profits and capital gains (% of revenue) in Latvia changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 1997 | +72.9% | 6.6% | 11.4% |
| 1995 | -62.3% | 15.6% | 5.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 10.5% | 5.9% | 15.6% | 6 |
| 2000s | 12.4% | 8.7% | 15.6% | 10 |
| 2010s | 8.5% | 5.7% | 10.3% | 10 |
| 2020s | 8.3% | 6.4% | 10.3% | 5 |
Countries ranked near Latvia
- 128 Moldova 11.7% compare
- 129 Micronesia (country) 10.9% compare
- 130 Poland 10.9% compare
- 132 Bosnia and Herzegovina 9.9% compare
- 133 Marshall Islands 9.7% compare
- 134 Bolivia 9.6% compare
More public sector data for Latvia
- Democracy, annual growth rate 0 % change on previous year (2025)
- Chief executive of the government is elected, annual growth rate 0 % change on previous year (2025)
- Elected parliament, annual growth rate 0 % change on previous year (2025)
- Men's universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote, annual growth rate 0 % change on previous year (2025)
- Universal right to vote in practice, annual growth rate 0 % change on previous year (2025)
- Arms imports 19.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 5.36 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0002 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate -76.19 % change on previous year (2024)
Frequently asked questions
- What is taxes on income, profits and capital gains in Latvia?
- Taxes on income, profits and capital gains in Latvia was 10.3% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Latvia?
- The highest recorded value was 15.6% in 2008.
- What is the lowest taxes on income, profits and capital gains recorded in Latvia?
- The lowest recorded value was 5.7% in 2018.
- How does Latvia rank for taxes on income, profits and capital gains?
- Latvia ranks 131st out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Latvia?
- Over the last ten years it is up 13.0%. The long-run trend across the full record is falling.
- Where does this Latvia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.