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Latvia vs Sri Lanka: tax rates compared
Sri Lanka has an income tax rate of 36%, 3pp above Latvia's 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 | LK | Difference |
|---|---|---|---|
| Income Tax | 33% | 36% | LK +3 pp |
| Corporate Tax | 20% | 30% | LK +10 pp |
| VAT | 21% | 18% | LV +3 pp |
| Capital Gains Tax | 25.5% | 0% | LV +25.5 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 |
| Sri Lanka | 36% | Source: Inland Revenue Department, Sri Lanka — Tax Chart, Year of Assessment 2025/2026 · as of 2025-08-28 |
| Difference | −3 pp | Sri Lanka higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Sri Lanka | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −10 pp | Sri Lanka higher |
Sri Lanka has a corporate tax rate of 30%, 10pp above Latvia's 20%. The 201-country average is 22.6%: Latvia sits below it, Sri Lanka sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Sri Lanka | 18% | Source: Sri Lanka Inland Revenue Department — Value Added Tax (VAT) · as of 2024-01-01 |
| Difference | +3 pp | Latvia higher |
Latvia has a VAT rate of 21%, 3pp above Sri Lanka's 18%. The 181-country average is 15%: both sit above it. Latvia's figure is dated 2026-06-30 and Sri Lanka's 2024-01-01, 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 |
| Sri Lanka | 0% | Source: Inland Revenue Department, Sri Lanka — Capital Gain Tax (CGT) · as of 2025-11-19 |
| Difference | +25.5 pp | Latvia higher |
Latvia has a capital gains tax rate of 25.5%, 25.5pp above Sri Lanka's 0%. The 175-country average is 10.3%: Latvia sits above it, Sri Lanka sits below it. Latvia's figure is dated 2026-06-30 and Sri Lanka's 2025-11-19, 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 |
| Sri Lanka | 0% | Source: Sri Lanka Inland Revenue Department — Acts of Parliament (tax legislation listing) · as of 2026-07-18 |
| Difference | 0 pp | displayed rates match |
Latvia and Sri Lanka share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.