BZ · AmericasLV · Europe
Belize vs Latvia: tax rates compared
Between the two, Latvia's income tax rate (33%) tops Belize's (25%) by 8pp. The 200-country average is 28%: Belize sits below it, Latvia sits above it.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | BZ | LV | Difference |
|---|---|---|---|
| Income Tax | 25% | 33% | LV +8 pp |
| Corporate Tax | 0% | 20% | LV +20 pp |
| VAT | 12.5% | 21% | LV +8.5 pp |
| Capital Gains Tax | 0% | 25.5% | LV +25.5 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 25% | Source: Belize Income and Business Tax (Amendment) Act, 2024 (No. 40 of 2024) · as of 2025-01-01 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | −8 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 0% | 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 | −20 pp | Latvia higher |
Between the two, Latvia's corporate tax rate (20%) tops Belize's (0%) by 20pp. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Belize | 12.5% | Source: Belize Tax Service — General Sales Tax Act (Chapter 63, Revised Edition 2011) · as of 2011-12-31 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −8.5 pp | Latvia higher |
Between the two, Latvia's VAT rate (21%) tops Belize's (12.5%) by 8.5pp. The 181-country average is 15%: Belize sits below it, Latvia sits above it. Belize's figure is dated 2011-12-31 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 0% | Source: Belize Income and Business Tax Act (Chapter 55, Revised Edition 2020) · as of 2020-12-31 |
| 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 Belize's (0%) by 25.5pp. The 175-country average is 10.3%: Belize sits below it, Latvia sits above it. Belize's figure is dated 2020-12-31 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Belize | 0% | Source: Belize Income and Business Tax Act, Chapter 55 (Government of Belize, Attorney General's Ministry) · as of 2026-07-18 |
| 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 — Belize and Latvia both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.