Property buying guide for Latvia
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Taxes in Latvia

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

Buy property in Latvia 2,636 listings on Tranio
For sale modern apartment in Old Town for 329,000 € 329,000 €
For sale modern apartment in Old Town

Total area 125 m²

Two-bedroom apartment with a balcony in Art Nouveau style building in prestigious district of Riga – Quiet Centre for 400,000 € 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

Apartment – Old Riga, Riga, Latvia for 235,000 € 235,000 €
Apartment – Old Riga, Riga, Latvia

Total area 102 m²

Furnished apartment with a balcony in a house with a rooftop terrace, a closed courtyard and a playground, Riga, Latvia for 140,000 € 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

For sale an exclusive apartment in prestigious Embassy area for 1,000,000 € 1,000,000 €
For sale an exclusive apartment in prestigious Embassy area

Total area 236 m²

Apartment in Quiet centre of Riga for 1,300,000 € 1,300,000 €
Apartment in Quiet centre of Riga

Total area 174 m² 3 bathrooms

Unique apartment with tower for sale for 240,000 € 240,000 €
Unique apartment with tower for sale

Total area 190 m²

Elegant 3-room 2-level apartment with low utilities bills, in the center of Riga for 340,000 € 340,000 €
Elegant 3-room 2-level apartment with low utilities bills, in the center of Riga

Total area 133 m² 2 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.

Share the article
2020.09.11 12:09
I am planning to buy an apartment in Riga (closer to the city center). What will the annual tax rate depend on? What is the dependence of the cadastral value of real estate and the amount of tax?
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    Property buying guide for Latvia
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