GM · AfricaLV · Europe
Gambia vs Latvia: tax rates compared
Between the two, Latvia's income tax rate (33%) tops Gambia's (25%) by 8pp. The 200-country average is 28%: Gambia sits below it, Latvia sits above it. Gambia's figure is dated 2018-01-01 and Latvia's 2025-12-30, so the two rates come from different data vintages.
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 | GM | LV | Difference |
|---|---|---|---|
| Income Tax | 25% | 33% | LV +8 pp |
| Corporate Tax | 27% | 20% | GM +7 pp |
| VAT | 15% | 21% | LV +6 pp |
| Capital Gains Tax | 15% | 25.5% | LV +10.5 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Gambia | 25% | Source: Gambia Revenue Authority — Personal Income Tax · as of 2018-01-01 |
| 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 |
|---|---|---|
| Gambia | 27% | 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 pp | Gambia higher |
Between the two, Gambia's corporate tax rate (27%) tops Latvia's (20%) by 7pp. The 201-country average is 22.6%: Gambia sits above it, Latvia sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Gambia | 15% | Source: Gambia Revenue Authority — Domestic Taxes FAQs · as of 2026-01-01 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −6 pp | Latvia higher |
Between the two, Latvia's VAT rate (21%) tops Gambia's (15%) by 6pp. The 181-country average is 15%: Gambia matches the world average, Latvia sits above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Gambia | 15% | Source: Gambia Revenue Authority — Domestic Taxes FAQs · as of 2026-07-19 |
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Difference | −10.5 pp | Latvia higher |
Between the two, Latvia's capital gains tax rate (25.5%) tops Gambia's (15%) by 10.5pp. The 175-country average is 10.3%: both sit above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Gambia | 0% | Source: Gambia Revenue Authority · 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 — Gambia 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.