BT · AsiaLV · Europe
Bhutan vs Latvia: tax rates compared
Latvia has an income tax rate of 33%, 3pp above Bhutan's 30%. The 200-country average is 28%: both sit above it. Bhutan's figure is dated 2026-07-20 and Latvia's 2025-12-30, so the two rates come from different data vintages.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | BT | LV | Difference |
|---|---|---|---|
| Income Tax | 30% | 33% | LV +3 pp |
| Corporate Tax | 25% | 20% | BT +5 pp |
| VAT | 5% | 21% | LV +16 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Bhutan | 30% | Source: Bhutan Department of Revenue and Customs, Ministry of Finance — Personal Income Tax (PIT) · as of 2026-07-20 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | −3 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Bhutan | 25% | 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 | +5 pp | Bhutan higher |
Bhutan has a corporate tax rate of 25%, 5pp above Latvia's 20%. The 201-country average is 22.6%: Bhutan sits above it, Latvia sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Bhutan | 5% | Source: EY Worldwide VAT, GST and Sales Tax Guide 2026 — Bhutan · as of 2026-01-01 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −16 pp | Latvia higher |
Latvia has a VAT rate of 21%, 16pp above Bhutan's 5%. The 181-country average is 15%: Bhutan sits below it, Latvia sits above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Bhutan | 0% | Source: Bhutan Department of Revenue and Customs, Ministry of Finance · 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 |
Bhutan and Latvia share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.