Latvia: Tax revenue
* indicates monthly or quarterly data series
| Latvia |
Tax revenue, percent of GDP |
|---|---|
| Latest value | 16.71 |
| Year | 2023 |
| Measure | percent |
| Data availability | 1994 - 2023 |
| Average | 15.49 |
| Min - Max | 10.07 - 17.23 |
| Source | The World Bank |
The latest value from 2023 is 16.71 percent, a decline from 17.15 percent in 2022. In comparison, the world average is 17.30 percent, based on data from 87 countries. Historically, the average for Latvia from 1994 to 2023 is 15.49 percent. The minimum value, 10.07 percent, was reached in 1994 while the maximum of 17.23 percent was recorded in 2016.
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Definition: Tax revenue refers to compulsory transfers to the central government for public purposes. Certain compulsory transfers such as fines, penalties, and most social security contributions are excluded. Refunds and corrections of erroneously collected tax revenue are treated as negative revenue.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Government spending, percent of GDP | 20.21 | 2023 | percent |
| Government spending, in dollars | 8.60 | 2023 | billion U.S. dollars |
| Fiscal balance, percent of GDP | -1.82 | 2024 | percent |
| Primary budget balance | -0.90 | 2024 | percent |
| Government expenditure | 2.81 | Q4/2025 | billion |
| Long-term interest rate | 3.18 | 9/2025 | percent |
| Tax revenue | 16.71 | 2023 | percent |
| Commercial tax rate | 38.10 | 2019 | percent |
| Tax preparation time | 169 | 2019 | hours |
| Taxes on goods and services | 40.01 | 2023 | percent |
| Taxes on international trade | 0.33 | 2004 | percent |
| Income and profits taxes | 8.65 | 2023 | percent |
| Foreign aid | 161.81 | 2004 | million U.S. dollars |
| Government debt | 46.76 | 2024 | percent |
| Government debt in foreign currency, percent | 7.46 | 2024 | percent |
| Government debt held by non-residents | 62.93 | 2024 | percent |
| Sovereign debt average maturity | 6.89 | 2024 | percent |
| Short-term government debt | 5.37 | 2024 | percent |