LV · Europe ↔ KR · Asia
Latvia vs South Korea: tax rates compared
Between the two, South Korea's corporate tax rate (26.4%) tops Latvia's (20%) by 6.4pp. The 201-country average is 22.6%: Latvia sits below it, South Korea sits above it.
Verified data covers three of the six tracked tax types for both countries; every rate below is cited to its source and dated.
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| South Korea | 26.4% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −6.4 pp | South Korea higher |
VAT
| Country | Rate | Source |
|---|---|---|
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| South Korea | 10% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Other taxes) · as of 2026-06-04 |
| Difference | +11 pp | Latvia higherlargest gap on this page |
Between the two, Latvia's VAT rate (21%) tops South Korea's (10%) by 11pp. The 37-country average is 19.5%: Latvia sits above it, South Korea 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 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Individual, Other taxes) · as of 2026-07-02 |
| Difference | 0 pp | displayed rates match |
There's no gap here — Latvia and South Korea 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: Income Tax, Capital Gains Tax, Crypto Tax.