CA · AmericasLV · Europe
Canada vs Latvia: tax rates compared
Canada has an income tax rate of 53.5%, 20.5pp above Latvia's 33%. The 200-country average is 28%: both sit above it.
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 | CA | LV | Difference |
|---|---|---|---|
| Income Tax | 53.5% | 33% | CA +20.5 pplargest gap |
| Corporate Tax | 26% | 20% | CA +6 pp |
| VAT | 5% | 21% | LV +16 pp |
| Capital Gains Tax | 27.4% | 25.5% | CA +1.9 pp |
| Crypto Tax | 27.4% | 25.5% | CA +1.9 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Canada | 53.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | +20.5 pp | Canada higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Canada | 26% | 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 | +6 pp | Canada higher |
Canada has a corporate tax rate of 26%, 6pp above Latvia's 20%. The 201-country average is 22.6%: Canada sits above it, Latvia sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Canada | 5% | Source: PWC Worldwide Tax Summaries — Canada (Corporate, Other taxes) · as of 2026-06-12 |
| 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 Canada's 5%. The 181-country average is 15%: Canada sits below it, Latvia sits above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Canada | 27.4% | Source: PWC Worldwide Tax Summaries — Canada (Individual, Taxes on personal income) · as of 2026-06-12 |
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Difference | +1.9 pp | Canada higher |
Canada has a capital gains tax rate of 27.4%, 1.9pp above Latvia's 25.5%. The 175-country average is 10.3%: both sit above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Canada | 27.4% | Source: Canada Revenue Agency — Guide for cryptocurrency users and tax professionals · as of 2023-12-13 |
| Latvia | 25.5% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Latvia · as of 2025-10-01 |
| Difference | +1.9 pp | Canada higher |
Canada has a crypto tax rate of 27.4%, 1.9pp above Latvia's 25.5%. The 88-country average is 13%: both sit above it. Canada's figure is dated 2023-12-13 and Latvia's 2025-10-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Canada | 0% | Source: PWC Worldwide Tax Summaries — Canada (Individual, Other taxes) · as of 2026-06-12 |
| 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 |
Canada and Latvia share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.