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India vs Latvia: tax rates compared
Latvia's income tax rate is 3pp higher than India's (33% vs 30%). The 200-country average is 28%: both sit above it. India's figure is dated 2026-05-12 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 | IN | LV | Difference |
|---|---|---|---|
| Income Tax | 30% | 33% | LV +3 pp |
| Corporate Tax | 30% | 20% | IN +10 pp |
| VAT | 18% | 21% | LV +3 pp |
| Capital Gains Tax | 12.5% | 25.5% | LV +13 pplargest gap |
| Crypto Tax | 30% | 25.5% | IN +4.5 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| India | 30% | Source: PWC Worldwide Tax Summaries — India (Individual, Taxes on personal income) · as of 2026-05-12 |
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Difference | −3 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| India | 30% | 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 | +10 pp | India higher |
India's corporate tax rate is 10pp higher than Latvia's (30% vs 20%). The 201-country average is 22.6%: India sits above it, Latvia sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| India | 18% | Source: PWC Worldwide Tax Summaries — India (Corporate, Other taxes) · as of 2026-05-11 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −3 pp | Latvia higher |
Latvia's VAT rate is 3pp higher than India's (21% vs 18%). The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| India | 12.5% | Source: PWC Worldwide Tax Summaries — India (Individual, Other taxes) · as of 2024-07-23 |
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Difference | −13 pp | Latvia higher |
Latvia's capital gains tax rate is 13pp higher than India's (25.5% vs 12.5%). The 175-country average is 10.3%: both sit above it. India's figure is dated 2024-07-23 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| India | 30% | Source: Ministry of Finance, Government of India — Memorandum Explaining the Provisions in the Finance Bill 2022 · as of 2023-04-01 |
| Latvia | 25.5% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Latvia · as of 2025-10-01 |
| Difference | +4.5 pp | India higher |
India's crypto tax rate is 4.5pp higher than Latvia's (30% vs 25.5%). The 88-country average is 13%: both sit above it. India's figure is dated 2023-04-01 and Latvia's 2025-10-01, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| India | 0% | Source: PWC Worldwide Tax Summaries — India (Individual, Other taxes) · as of 2026-05-12 |
| 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 |
India's wealth tax rate is identical to Latvia's — both sit at 0%. The 193-country average is 0.1%: both sit below it.