CY · EuropeLV · Europe
Cyprus vs Latvia: tax rates compared
Between the two, Cyprus's income tax rate (35%) tops Latvia's (33%) by 2pp. The 200-country average is 28%: both sit above it. Cyprus's figure is dated 2026-05-18 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 | CY | LV | Difference |
|---|---|---|---|
| Income Tax | 35% | 33% | CY +2 pp |
| Corporate Tax | 12.5% | 20% | LV +7.5 pp |
| VAT | 19% | 21% | LV +2 pp |
| Capital Gains Tax | 0% | 25.5% | LV +25.5 pplargest gap |
| Crypto Tax | 8% | 25.5% | LV +17.5 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Cyprus | 35% | Source: PWC Worldwide Tax Summaries — Cyprus (Individual, Taxes on personal income) · as of 2026-05-18 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | +2 pp | Cyprus higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Cyprus | 12.5% | 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 | −7.5 pp | Latvia higher |
Between the two, Latvia's corporate tax rate (20%) tops Cyprus's (12.5%) by 7.5pp. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Cyprus | 19% | Source: PWC Worldwide Tax Summaries — Cyprus (Corporate, Other taxes) · as of 2026-05-18 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −2 pp | Latvia higher |
Between the two, Latvia's VAT rate (21%) tops Cyprus's (19%) by 2pp. The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Cyprus | 0% | Source: PWC Worldwide Tax Summaries — Cyprus (Individual, Income determination) · as of 2026-05-18 |
| 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 Cyprus's (0%) by 25.5pp. The 175-country average is 10.3%: Cyprus sits below it, Latvia sits above it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Cyprus | 8% | Source: PWC Worldwide Tax Summaries — Cyprus (Individual, Income determination) · as of 2026-05-18 |
| Latvia | 25.5% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Latvia · as of 2025-10-01 |
| Difference | −17.5 pp | Latvia higher |
Between the two, Latvia's crypto tax rate (25.5%) tops Cyprus's (8%) by 17.5pp. The 88-country average is 13%: Cyprus sits below it, Latvia sits above it. Cyprus's figure is dated 2026-05-18 and Latvia's 2025-10-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Cyprus | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-05-18 |
| 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 — Cyprus and Latvia both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.