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Latvia vs Venezuela: tax rates compared
Venezuela's income tax rate is 1pp higher than Latvia's (34% vs 33%). The 200-country average is 28%: both sit above it. Latvia's figure is dated 2025-12-30 and Venezuela's 2026-01-12, 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 | VE | Difference |
|---|---|---|---|
| Income Tax | 33% | 34% | VE +1 pp |
| Corporate Tax | 20% | 34% | VE +14 pp |
| VAT | 21% | 16% | LV +5 pp |
| Capital Gains Tax | 25.5% | 1% | LV +24.5 pplargest gap |
| Wealth Tax | 0% | 0.3% | VE +0.3 pp |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 33% | Source: State Revenue Service of Latvia (VID) — Personal Income Tax rates · as of 2025-12-30 |
| Venezuela | 34% | Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Taxes on personal income) · as of 2026-01-12 |
| Difference | −1 pp | Venezuela higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 20% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Venezuela | 34% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | −14 pp | Venezuela higher |
Venezuela's corporate tax rate is 14pp higher than Latvia's (34% vs 20%). The 201-country average is 22.6%: Latvia sits below it, Venezuela sits above it.
VAT
| Country | Rate | Source |
|---|---|---|
| Latvia | 21% | Source: PWC Worldwide Tax Summaries — Latvia (Corporate, Other taxes) · as of 2026-06-30 |
| Venezuela | 16% | Source: PWC Worldwide Tax Summaries — Venezuela (Corporate, Other taxes) · as of 2026-01-12 |
| Difference | +5 pp | Latvia higher |
Latvia's VAT rate is 5pp higher than Venezuela's (21% vs 16%). The 181-country average is 15%: both sit above it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Latvia | 25.5% | Source: PWC Worldwide Tax Summaries — Latvia (Individual, Income determination) · as of 2026-06-30 |
| Venezuela | 1% | Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Income determination) · as of 2026-01-12 |
| Difference | +24.5 pp | Latvia higher |
Latvia's capital gains tax rate is 24.5pp higher than Venezuela's (25.5% vs 1%). The 175-country average is 10.3%: Latvia sits above it, Venezuela 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 |
| Venezuela | 0.3% | Source: PWC Worldwide Tax Summaries — Venezuela (Individual, Other taxes) · as of 2026-01-12 |
| Difference | −0.3 pp | Venezuela higher |
Venezuela's wealth tax rate is 0.3pp higher than Latvia's (0.3% vs 0%). The 193-country average is 0.1%: Latvia sits below it, Venezuela sits above it.
Not covered for both countries yet: Crypto Tax.