Taxes in Latvia

Latvia has a simple and convenient tax system. There is no inheritance, gift or wealth tax.

Buy property in Latvia 2,112 listings on Tranio

400,000 €

Two-bedroom apartment with a balcony in Art Nouveau style building in prestigious district of Riga – Quiet Centre

Total area 97 m² 2 bedrooms

235,000 €

3-bedrooms apartment 102 m² in Old Riga, Latvia

Total area 102 m²

140,000 €

Furnished apartment with a balcony in a house with a rooftop terrace, a closed courtyard and a playground, Riga, Latvia

1 bedroom 1 bathroom

1,000,000 €

For sale an exclusive apartment in prestigious Embassy area

Total area 236 m²

1,300,000 €

Apartment in Quiet centre of Riga

Total area 174 m² 3 bathrooms

240,000 €

Unique apartment with tower for sale

Total area 190 m²

340,000 €

Elegant 3-room 2-level apartment with low utilities bills, in the center of Riga

Total area 133 m² 2 bedrooms

320,000 €

Confortable 4-room apartment with a full fit-out, a fireplace and furniture, in a historical building in the center of Riga

Total area 145 m² 3 bedrooms

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 is 0.2–0.6% depending on the cadastral value. Land and commercial property is 1.5%.

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. Non-residents in Latvia are only taxed on income received in the country.

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.