Taxes on income, profits and capital gains in Latvia
Latvia: Taxes on income, profits and capital gains was 20.8% 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 total taxes.
Analysis
In 2024, taxes on income, profits and capital gains in Latvia stood at 20.8%.
That represents a change of up 17.4% on the previous year and up 19.8% over ten years.
Over the whole period, taxes on income, profits and capital gains in Latvia peaked at 28.5% in 2008 and was at its lowest, 11.1%, in 2018.
Latvia ranks 136th of 153 countries on this measure, 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 total taxes | Change |
|---|---|---|
| 1994 | 26.5% | — |
| 1995 | 12.3% | -53.7% |
| 1996 | 13.3% | +8.3% |
| 1997 | 22.0% | +65.8% |
| 1998 | 21.8% | -1.0% |
| 1999 | 22.1% | +1.6% |
| 2000 | 21.1% | -4.9% |
| 2001 | 23.4% | +11.0% |
| 2002 | 24.9% | +6.5% |
| 2003 | 21.0% | -15.6% |
| 2004 | 22.8% | +8.3% |
| 2005 | 22.0% | -3.3% |
| 2006 | 22.3% | +1.3% |
| 2007 | 24.3% | +8.7% |
| 2008 | 28.5% | +17.4% |
| 2009 | 18.8% | -34.1% |
| 2010 | 15.8% | -15.8% |
| 2011 | 17.0% | +7.3% |
| 2012 | 18.5% | +8.8% |
| 2013 | 18.2% | -1.4% |
| 2014 | 17.4% | -4.5% |
| 2015 | 17.4% | +0.2% |
| 2016 | 18.3% | +5.3% |
| 2017 | 18.6% | +1.4% |
| 2018 | 11.1% | -40.4% |
| 2019 | 11.9% | +7.4% |
| 2020 | 13.1% | +10.0% |
| 2021 | 15.4% | +17.5% |
| 2022 | 15.8% | +2.7% |
| 2023 | 17.7% | +12.3% |
| 2024 | 20.8% | +17.4% |
Latvia compared with similar countries
- Latvia's 20.8% is below the median for high income countries, which is 43.9%, 47% of the median. (55 countries reporting)
- Latvia's 20.8% is below the median for Europe & Central Asia, which is 39.4%, 53% 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 | +65.8% | 13.3% | 22.0% |
| 1995 | -53.7% | 26.5% | 12.3% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1990s | 19.7% | 12.3% | 26.5% | 6 |
| 2000s | 22.9% | 18.8% | 28.5% | 10 |
| 2010s | 16.4% | 11.1% | 18.6% | 10 |
| 2020s | 16.6% | 13.1% | 20.8% | 5 |
Countries ranked near Latvia
More public sector data for Latvia
- Democracy, 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)
- Elected parliament, 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)
- Democracy 7 (2025)
- Chief executive of the government is elected 1 (2025)
- Elected parliament 1 (2025)
- Men's universal right to vote 1 (2025)
Frequently asked questions
- What is taxes on income, profits and capital gains in Latvia?
- Taxes on income, profits and capital gains in Latvia was 20.8% 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 28.5% in 2008.
- What is the lowest taxes on income, profits and capital gains recorded in Latvia?
- The lowest recorded value was 11.1% in 2018.
- How does Latvia rank for taxes on income, profits and capital gains?
- Latvia ranks 136th 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 19.8%. 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.