LV · EuropePY · Americas
Latvia vs Paraguay: tax rates compared
Between the two, Latvia's income tax rate (33%) tops Paraguay's (10%) by 23pp. The 200-country average is 28%: Latvia sits above it, Paraguay sits below it. Latvia's figure is dated 2025-12-30 and Paraguay's 2026-02-07, so the two rates come from different data vintages.
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 | PY | Difference |
|---|---|---|---|
| Income Tax | 33% | 10% | LV +23 pplargest gap |
| Corporate Tax | 20% | 10% | LV +10 pp |
| VAT | 21% | 10% | LV +11 pp |
| Capital Gains Tax | 25.5% | 8% | LV +17.5 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 |
| Paraguay | 10% | Source: PWC Worldwide Tax Summaries — Paraguay (Individual, Taxes on personal income) · as of 2026-02-07 |
| Difference | +23 pp | Latvia higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Paraguay | 10% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | +10 pp | Latvia higher |
Between the two, Latvia's corporate tax rate (20%) tops Paraguay's (10%) by 10pp. 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 |
| Paraguay | 10% | Source: PWC Worldwide Tax Summaries — Paraguay (Corporate, Other taxes) · as of 2026-02-07 |
| Difference | +11 pp | Latvia higher |
Between the two, Latvia's VAT rate (21%) tops Paraguay's (10%) by 11pp. The 181-country average is 15%: Latvia sits above it, Paraguay sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Paraguay | 8% | Source: PWC Worldwide Tax Summaries — Paraguay (Individual, Taxes on personal income) · as of 2026-02-07 |
| Difference | +17.5 pp | Latvia higher |
Between the two, Latvia's capital gains tax rate (25.5%) tops Paraguay's (8%) by 17.5pp. The 175-country average is 10.3%: Latvia sits above it, Paraguay 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 |
| Paraguay | 0% | Source: PWC Worldwide Tax Summaries — Paraguay (Net wealth/worth tax rates) · as of 2026-02-07 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Latvia and Paraguay both post a wealth tax rate of 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.