LV · EuropeKR · Asia
Latvia vs South Korea: tax rates compared
Between the two, South Korea's income tax rate (49.5%) tops Latvia's (33%) by 16.5pp. The 200-country average is 28%: both sit above it.
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 | KR | Difference |
|---|---|---|---|
| Income Tax | 33% | 49.5% | KR +16.5 pp |
| Corporate Tax | 20% | 26.4% | KR +6.4 pp |
| VAT | 21% | 10% | LV +11 pp |
| Capital Gains Tax | 25.5% | 0% | LV +25.5 pplargest gap |
| 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 |
| South Korea | 49.5% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Difference | −16.5 pp | South Korea higher |
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 |
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.
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 higher |
Between the two, Latvia's VAT rate (21%) tops South Korea's (10%) by 11pp. The 181-country average is 15%: Latvia sits above it, South Korea 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 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Individual, Income determination) · as of 2026-07-02 |
| Difference | +25.5 pp | Latvia higher |
Between the two, Latvia's capital gains tax rate (25.5%) tops South Korea's (0%) by 25.5pp. The 175-country average is 10.3%: Latvia sits above it, South Korea sits below it.
Crypto Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 25.5% | Source: EY Worldwide Personal Tax and Immigration Guide 2025-26 — Latvia · as of 2025-10-01 |
| South Korea | 0% | Source: PWC Worldwide Tax Summaries — Korea, Republic of (Corporate, Income determination — Income from virtual assets) · as of 2026-06-04 |
| Difference | +25.5 pp | Latvia higher |
Between the two, Latvia's crypto tax rate (25.5%) tops South Korea's (0%) by 25.5pp. The 88-country average is 13%: Latvia sits above it, South Korea sits below it. Latvia's figure is dated 2025-10-01 and South Korea's 2026-06-04, 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 |
| 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.