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 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.

 
 
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