GG · EuropeLV · Europe
Guernsey vs Latvia: tax rates compared
Latvia has an income tax rate of 33%, 13pp above Guernsey's 20%. The 200-country average is 28%: Guernsey 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 | GG | LV | Difference |
|---|---|---|---|
| Income Tax | 20% | 33% | LV +13 pp |
| Corporate Tax | 0% | 20% | LV +20 pp |
| VAT | 0% | 21% | LV +21 pp |
| Capital Gains Tax | 0% | 25.5% | LV +25.5 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Guernsey | 20% | Source: PwC Worldwide Tax Summaries — Guernsey, Channel Islands, Individual - Taxes on personal income · as of 2025-12-17 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | −13 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Guernsey | 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 |
Latvia has a corporate tax rate of 20%, 20pp above Guernsey's 0%. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Guernsey | 0% | Source: PWC Worldwide Tax Summaries — Guernsey (Individual, Other taxes) · as of 2025-12-17 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −21 pp | Latvia higher |
Latvia has a VAT rate of 21%, 21pp above Guernsey's 0%. The 181-country average is 15%: Guernsey sits below it, Latvia sits above it. Guernsey's figure is dated 2025-12-17 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Guernsey | 0% | Source: PwC Worldwide Tax Summaries — Guernsey, Channel Islands, Individual - Income determination · as of 2025-12-17 |
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Difference | −25.5 pp | Latvia higher |
Latvia has a capital gains tax rate of 25.5%, 25.5pp above Guernsey's 0%. The 175-country average is 10.3%: Guernsey sits below it, Latvia sits above it. Guernsey's figure is dated 2025-12-17 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Guernsey | 0% | Source: PWC Worldwide Tax Summaries — Guernsey (Individual, Other taxes) · as of 2025-12-17 |
| 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 |
Guernsey and Latvia share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it. Guernsey's figure is dated 2025-12-17 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Not covered for both countries yet: Crypto Tax.