Taxes

1. DIRECT TAXES

1.2. Property taxes	Estate tax	1.5% of the cadastral value of real estate
	Taxes on motor vehicles	Vehicle Operating Tax Business passenger vehicle tax
2.2. Income taxes	Personal income tax	20% income up to EUR 20 004 23% income EUR 20 004-62800 31% above EUR 62800
	Micro-enterprise tax	`with 01.01.22 becoming the UIN payer`
	Corporate Income Tax (UIN)	20% of distributed profits 20% of expenditure equated to a notionally distributed profit Withholding UIN max. for non-residents: management and advisory services – 20% Disposal of real estate – 3% Renting or leasing of real estate – 5% max. offshoring companies - 20% excluding the supply of goods to the EU and EEA public securities
	Gift and inheritance taxes	Not implemented

2. INDIRECT TAXES

2.1.Universal Consumption	VAT	21% - standard rate reduced rate: 12%, 5%, 0%.
2.2.Special consumption	Excise duties	Excise goods: alcoholic beverages, tobacco products, their substitute products, petroleum products, natural gas, coffee, non-alcoholic beverages
2.3. Customs duties	Import duties Import/Export duties Export duties	Agricultural policy

3. SOCIAL TAXES - State Social Insurance Mandatory Contributions (VSAOI)

VSAOI - a mandatory payment to a special budget account is prescribed by law
The mandatory contribution rate of -34.09%, of which 23.59% is paid by the employer and 10.50% by the worker.
Minimum amount of mandatory contributions per quarter - EUR 1500.
Annual ceiling: EUR 62 800
The subject of mandatory contributions above the ceiling is the subject of a solidarity tax of 25%.

4.SPECIAL TAX REGIMES

The following special economic zones (SEZ) and freeports exist in Latvia:
Liepāja SEZ; Rezekne SEZ; Riga Free Port; Ventspils Free Port; Latgale SEZ