LV · EuropeMC · Europe
Latvia vs Monaco: tax rates compared
Latvia's income tax rate is 33pp higher than Monaco's (33% vs 0%). The 200-country average is 28%: Latvia sits above it, Monaco sits below it. Latvia's figure is dated 2025-12-30 and Monaco's 2023-03-13, 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 | LV | MC | Difference |
|---|---|---|---|
| Income Tax | 33% | 0% | LV +33 pplargest gap |
| Corporate Tax | 20% | 25% | MC +5 pp |
| VAT | 21% | 20% | LV +1 pp |
| Capital Gains Tax | 25.5% | 0% | LV +25.5 pp |
| Crypto Tax | 25.5% | 0% | LV +25.5 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 |
| Monaco | 0% | Source: Monaco Public Service Portal (monservicepublic.gouv.mc) — Tax in Monaco · as of 2023-03-13 |
| Difference | +33 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Monaco | 25% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −5 pp | Monaco higher |
Monaco's corporate tax rate is 5pp higher than Latvia's (25% vs 20%). The 201-country average is 22.6%: Latvia sits below it, Monaco sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Monaco | 20% | Source: Monaco government portal (MonEntreprise.gouv.mc) — VAT · as of 2023-03-07 |
| Difference | +1 pp | Latvia higher |
Latvia's VAT rate is 1pp higher than Monaco's (21% vs 20%). The 181-country average is 15%: both sit above it. Latvia's figure is dated 2026-06-30 and Monaco's 2023-03-07, so the two rates come from different data vintages.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Monaco | 0% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Monaco · as of 2025-10-01 |
| Difference | +25.5 pp | Latvia higher |
Latvia's capital gains tax rate is 25.5pp higher than Monaco's (25.5% vs 0%). The 175-country average is 10.3%: Latvia sits above it, Monaco sits below it. Latvia's figure is dated 2026-06-30 and Monaco's 2025-10-01, so the two rates come from different data vintages.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 25.5% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Latvia · as of 2025-10-01 |
| Monaco | 0% | Source: Monaco Public Service Portal (monservicepublic.gouv.mc) — Tax in Monaco · as of 2023-03-13 |
| Difference | +25.5 pp | Latvia higher |
Latvia's crypto tax rate is 25.5pp higher than Monaco's (25.5% vs 0%). The 88-country average is 13%: Latvia sits above it, Monaco sits below it. Latvia's figure is dated 2025-10-01 and Monaco's 2023-03-13, 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 |
| Monaco | 0% | Source: Monaco Public Service Portal (monservicepublic.gouv.mc) — Tax in Monaco · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
Latvia's wealth tax rate is identical to Monaco's — both sit at 0%. The 193-country average is 0.1%: both sit below it.