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Jamaica vs Latvia: tax rates compared
Latvia has an income tax rate of 33%, 3pp above Jamaica's 30%. The 200-country average is 28%: both sit 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 | JM | LV | Difference |
|---|---|---|---|
| Income Tax | 30% | 33% | LV +3 pp |
| Corporate Tax | 25% | 20% | JM +5 pp |
| VAT | 15% | 21% | LV +6 pp |
| Capital Gains Tax | 0% | 25.5% | LV +25.5 pplargest gap |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Jamaica | 30% | Source: PWC Worldwide Tax Summaries — Jamaica (Individual, Taxes on personal income) · as of 2025-12-31 |
| 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 |
|---|---|---|
| Jamaica | 25% | 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 | +5 pp | Jamaica higher |
Jamaica has a corporate tax rate of 25%, 5pp above Latvia's 20%. The 201-country average is 22.6%: Jamaica sits above it, Latvia sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Jamaica | 15% | Source: PWC Worldwide Tax Summaries — Jamaica (Corporate, Other taxes) · as of 2025-12-31 |
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Difference | −6 pp | Latvia higher |
Latvia has a VAT rate of 21%, 6pp above Jamaica's 15%. The 181-country average is 15%: Jamaica matches the world average, Latvia sits above it. Jamaica's figure is dated 2025-12-31 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Jamaica | 0% | Source: PWC Worldwide Tax Summaries — Jamaica (Individual, Income determination) · as of 2025-12-31 |
| 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 Jamaica's 0%. The 175-country average is 10.3%: Jamaica sits below it, Latvia sits above it. Jamaica's figure is dated 2025-12-31 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Jamaica | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2025-12-31 |
| 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 |
Jamaica and Latvia share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it. Jamaica's figure is dated 2025-12-31 and Latvia's 2026-06-30, so the two rates come from different data vintages.
Not covered for both countries yet: Crypto Tax.