Latvia has a simple and convenient tax system. There is no inheritance, gift or wealth tax.
Transaction and registration tax
Title registration fees are 2% of the cadastral or contractual value of the purchased property, depending on which is higher.
Ownership, income and corporate taxes
Real estate tax on residential property
Capital gains tax on the sale of property is 15%. Primary residences are exempt from this tax.
Income tax is 24% for all revenue earned by an individual including property rental income.
Corporate tax rate is 15%.
Disclaimer: the information in the above article is for reference and may be subject to change over time. Persons interested in exact calculations should contact a certified tax specialist in this country before purchasing property.