LV · EuropeMX · Americas
Latvia vs Mexico: tax rates compared
Mexico's income tax rate is 2pp higher than Latvia's (35% vs 33%). 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 | LV | MX | Difference |
|---|---|---|---|
| Income Tax | 33% | 35% | MX +2 pp |
| Corporate Tax | 20% | 30% | MX +10 pp |
| VAT | 21% | 16% | LV +5 pp |
| Capital Gains Tax | 25.5% | 10% | LV +15.5 pplargest gap |
| 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 |
| Mexico | 35% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −2 pp | Mexico higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Mexico | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Mexico higher |
Mexico's corporate tax rate is 10pp higher than Latvia's (30% vs 20%). The 201-country average is 22.6%: Latvia sits below it, Mexico sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Mexico | 16% | Source: PWC Worldwide Tax Summaries — Mexico (Corporate, Other taxes) · as of 2026-02-24 |
| Difference | +5 pp | Latvia higher |
Latvia's VAT rate is 5pp higher than Mexico's (21% vs 16%). The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Mexico | 10% | Source: PwC Worldwide Tax Summaries — Mexico (Individual, Income determination) · as of 2026-01-30 |
| Difference | +15.5 pp | Latvia higher |
Latvia's capital gains tax rate is 15.5pp higher than Mexico's (25.5% vs 10%). The 175-country average is 10.3%: Latvia sits above it, Mexico sits below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-06-30 |
| Mexico | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-02-24 |
| Difference | 0 pp | displayed rates match |
Latvia's wealth tax rate is identical to Mexico's — both sit at 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.