Latvia: Income and profits taxes

* indicates monthly or quarterly data series

Income, profits, and capital gains taxes: percent of revenue

 Latest value 7.45
 Year 2021
 Measure percent
 Data availability 1994 - 2021
 Average 10.18
 Min - Max 4.75 - 15.62
 Source The World Bank
For that indicator, we provide data for Latvia from 1994 to 2021. The average value for Latvia during that period was 10.18 percent with a minimum of 4.75 percent in 2019 and a maximum of 15.62 percent in 2008. The latest value from 2021 is 7.45 percent. For comparison, the world average in 2021 based on 103 countries is 25.15 percent. See the global rankings for that indicator or use the country comparator to compare trends over time.
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* indicates monthly or quarterly data series

Recent values chart
Latvia - Income and profits taxes - recent values

Historical chart
Latvia - Income and profits taxes - historical chart - 1994-2021

Definition: Taxes on income, profits, and capital gains are levied on the actual or presumptive net income of individuals, on the profits of corporations and enterprises, and on capital gains, whether realized or not, on land, securities, and other assets. Intragovernmental payments are eliminated in consolidation.

 Related indicators Latest value Reference Measure
 Government spending, percent of GDP 18.71 2022 percent
 Government spending, in dollars 7.66 2022 billion U.S. dollars
 Fiscal balance, percent of GDP -4.40 2022 percent
 Government debt 40.80 2022 percent
 Government expenditure 1.95 Q3/2023 billion
 Long-term government bond yield 3.88 9/2023 percent
 Tax revenue 21.92 2021 percent
 Commercial tax rate 38.10 2019 percent
 Tax preparation time 169 2019 hours
 Number of taxes 7 2019 taxes
 Taxes on goods and services 42.40 2021 percent
 Taxes on international trade 0.04 2021 percent
 Income and profits taxes 7.45 2021 percent
 Foreign aid 161.81 2004 million U.S. dollars
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