IS · Europe ↔ LV · Europe
Iceland vs Latvia: tax rates compared
Iceland's corporate tax rate is identical to Latvia's — both sit at 20%. The 201-country average is 22.6%: both sit below it.
Verified data covers three of the six tracked tax types for both countries; every rate below is cited to its source and dated.
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 20% | 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 | 0 pp | displayed rates match |
VAT
| Country | Rate | Source |
|---|---|---|
| Iceland | 24% | Source: PWC Worldwide Tax Summaries — Iceland (Corporate, Other taxes) · as of 2026-06-22 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | +3 pp | Iceland higherlargest gap on this page |
Iceland's VAT rate is 3pp higher than Latvia's (24% vs 21%). The 37-country average is 19.5%: both sit above it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Iceland | 0% | Source: PWC Worldwide Tax Summaries — Iceland (Individual, Other taxes) · as of 2026-06-22 |
| 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 |
Iceland's wealth tax rate is identical to Latvia's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Income Tax, Capital Gains Tax, Crypto Tax.