Taxes on income, profits and capital gains in Latvia
Latvia: Taxes on income, profits and capital gains 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 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 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 Republic of Moldova 12.4% compare
- 129 Ecuador 12.3% compare
- 130 Micronesia, Federated States of 10.9% compare
- 132 Bosnia and Herzegovina 9.9% compare
- 133 Marshall Islands 9.7% compare
- 134 Bolivia, Plurinational State of 9.6% compare
More public sector data for Latvia
- Arms imports 10.00 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)
- Arms imports (SIPRI trend indicator values), gaps filled 10.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 763.99 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0324 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 13.71 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 1.43 billion current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 674.92 SIPRI trend indicator values per square kilometre (2023)
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.
Download this data
CSV · JSON — 31 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.