Taxes in Latvia

Latvia's tax system is designed to be competitive and attractive to businesses and individuals, offering low corporate tax rates and various tax incentives. The country's corporate tax rate is currently set at 20%, which is one of the lowest in the EU, making it an ideal destination for businesses looking to reduce their tax liabilities.

In addition to its low corporate tax rate, Latvia also offers various tax incentives for businesses, including investment tax credits, research and development tax credits, and tax relief for start-ups. These incentives can help businesses to reduce their tax burden and reinvest more of their profits back into their operations.

For individuals, Latvia has a progressive income tax system, with rates ranging from 20% to 31.4%. The country also has a social security system that provides various benefits, including healthcare and retirement benefits, to individuals who are employed or self-employed in Latvia.

Navigating the tax landscape in Latvia can be complex, especially for foreign businesses and individuals. Our team of tax experts can help you understand the various taxes and regulations that apply to your situation and ensure that you are taking advantage of all the tax incentives and benefits available to you. Contact us today to learn more about how we can help with your tax needs in Latvia.