BB · AmericasLV · Europe
Barbados vs Latvia: tax rates compared
Between the two, Latvia's income tax rate (33%) tops Barbados's (28.5%) by 4.5pp. The 200-country average is 28%: both sit above it. Barbados's figure is dated 2026-01-11 and Latvia's 2025-12-30, so the two rates come from different data vintages.
Verified data covers six of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | BB | LV | Difference |
|---|---|---|---|
| Income Tax | 28.5% | 33% | LV +4.5 pp |
| Corporate Tax | 9% | 20% | LV +11 pp |
| VAT | 17.5% | 21% | LV +3.5 pp |
| Capital Gains Tax | 0% | 25.5% | LV +25.5 pplargest gap |
| Crypto Tax | 0% | 25.5% | LV +25.5 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 28.5% | Source: PWC Worldwide Tax Summaries — Barbados (Individual, Taxes on personal income) · as of 2026-01-11 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | −4.5 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 9% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −11 pp | Latvia higher |
Between the two, Latvia's corporate tax rate (20%) tops Barbados's (9%) by 11pp. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Barbados | 17.5% | Source: PWC Worldwide Tax Summaries — Barbados (Corporate, Other taxes) · as of 2026-01-11 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −3.5 pp | Latvia higher |
Between the two, Latvia's VAT rate (21%) tops Barbados's (17.5%) by 3.5pp. The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PWC Worldwide Tax Summaries — Barbados (Individual, Income determination) · as of 2026-01-11 |
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Difference | −25.5 pp | Latvia higher |
Between the two, Latvia's capital gains tax rate (25.5%) tops Barbados's (0%) by 25.5pp. The 175-country average is 10.3%: Barbados sits below it, Latvia sits above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PwC Worldwide Tax Summaries — Barbados (Individual, Income determination) · as of 2026-01-11 |
| Latvia | 25.5% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Latvia · as of 2025-10-01 |
| Difference | −25.5 pp | Latvia higher |
Between the two, Latvia's crypto tax rate (25.5%) tops Barbados's (0%) by 25.5pp. The 88-country average is 13%: Barbados sits below it, Latvia sits above it. Barbados's figure is dated 2026-01-11 and Latvia's 2025-10-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Barbados | 0% | Source: PWC Worldwide Tax Summaries — Barbados (Net wealth/worth tax rates) · as of 2026-01-11 |
| Latvia | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-06-30 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Barbados and Latvia both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.