LV · EuropeMG · Africa
Latvia vs Madagascar: tax rates compared
Latvia's income tax rate is 8pp higher than Madagascar's (33% vs 25%). The 200-country average is 28%: Latvia sits above it, Madagascar sits below it. Latvia's figure is dated 2025-12-30 and Madagascar's 2026-01-01, so the two rates come from different data vintages.
Verified data covers four of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | LV | MG | Difference |
|---|---|---|---|
| Income Tax | 33% | 25% | LV +8 pplargest gap |
| Corporate Tax | 20% | 20% | match |
| VAT | 21% | 20% | LV +1 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Madagascar | 25% | Source: Ministère de l'Économie et des Finances (Madagascar) — Loi n° 2025-021 portant Loi de Finances pour 2026, Article 01.03.16 · as of 2026-01-01 |
| Difference | +8 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Madagascar | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | 0 pp | displayed rates match |
Latvia's corporate tax rate is identical to Madagascar's — both sit at 20%. The 201-country average is 22.6%: both sit below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Madagascar | 20% | Source: PWC Worldwide Tax Summaries — Madagascar (Corporate, Other taxes) · as of 2025-11-18 |
| Difference | +1 pp | Latvia higher |
Latvia's VAT rate is 1pp higher than Madagascar's (21% vs 20%). The 181-country average is 15%: both sit above it. Latvia's figure is dated 2026-06-30 and Madagascar's 2025-11-18, so the two rates come from different data vintages.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-06-30 |
| Madagascar | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2025-11-18 |
| Difference | 0 pp | displayed rates match |
Latvia's wealth tax rate is identical to Madagascar's — both sit at 0%. The 193-country average is 0.1%: both sit below it. Latvia's figure is dated 2026-06-30 and Madagascar's 2025-11-18, so the two rates come from different data vintages.
Not covered for both countries yet: Capital Gains Tax, Crypto Tax.