WorldTax Compare← All Comparisons

Cyprus vs Latvia
Tax Rate Comparison

Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.

πŸ‡¨πŸ‡Ύ Cyprus
vs
πŸ‡±πŸ‡» Latvia
Tax Year:

πŸ’° Personal Income Tax Calculator

Enter your income to see your estimated annual tax liability in each country β€” side by side.

Enter your annual income above to see your personal tax comparison β†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0–35%
35% top; non-dom regime reviewed but maintained
No change
20–31%
31% top; NATO spending affecting fiscal balance
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
5–19%
19% standard maintained
No change
12–21%
21% standard maintained
No change
Corporate Tax Rate
Corporate Tax Rate
12.5%
12.5% competitive; IP Box reform for Pillar Two compliance
No change
20%
20% distributed profits; Pillar Two active
No change
Capital Gains Tax
Capital Gains Tax
20%
20% immovable property; shares exempt
No change
20%
20% as income
No change
Social Security & Payroll
Social Security / Payroll
~23.8%
GeSY system bedding in; contribution rates stable
No change
~35.09%
Contribution rates stable; pension II pillar growing
No change
State, Regional & Local Taxes

πŸ‡¨πŸ‡Ύ Cyprus β€” Municipal & Community Taxes

Cyprus's 5 districts and 30+ municipalities/communities levy local taxes including immovable property tax (at municipal level after national IPT was abolished in 2017), refuse collection fees, and business licences. Nicosia and Limassol have the highest municipal charges. Cyprus is a major international financial centre offering non-dom status (no tax on dividends/interest for non-domiciled residents for 17 years), which attracts wealthy individuals. The IP Box regime offers 2.5% effective tax on qualifying IP income.

πŸ‡±πŸ‡» Latvia β€” Municipal Income Tax

Latvia's 119 municipalities levy a local income tax portion β€” 80% of income tax goes to municipalities, 20% to the state. The effective split means municipalities directly benefit from local earnings. Property tax (nekustamā Δ«paΕ‘uma nodoklis) is set by municipalities at 0.2%–3% of cadastral value. Latvia uses the progressive income tax system introduced in 2018 (replacing the flat 23%). Vehicle tax and business risk duty are national.

⚠️ Disclaimer: Rates shown are standard top/headline rates for informational purposes. Actual tax liability depends on income level, residency, deductions, and tax treaties. 2025–2026 data reflects announced or enacted rates and may be subject to change. Not financial or legal advice.

Cyprus vs Latvia: Key Tax Differences (2026)

πŸ’° Income Tax: πŸ‡¨πŸ‡Ύ Cyprus has a higher top income tax rate (0–35% vs 20–31%). πŸ‡±πŸ‡» Latvia is more favourable for high earners.

πŸ›’ VAT/Sales Tax: Latvia has a higher consumption tax (5–19% vs 12–21%).

🏒 Corporate Tax: πŸ‡¨πŸ‡Ύ Cyprus offers a lower corporate rate (12.5% vs 20%), which can influence business location decisions.

Related Comparisons

πŸ‡¨πŸ‡¦ Canada vs πŸ‡¨πŸ‡Ύ CyprusTax comparisonπŸ‡¨πŸ‡¦ Canada vs πŸ‡±πŸ‡» LatviaTax comparisonπŸ‡¨πŸ‡Ύ Cyprus vs πŸ‡©πŸ‡ͺ GermanyTax comparisonπŸ‡¨πŸ‡Ύ Cyprus vs πŸ‡¬πŸ‡· GreeceTax comparisonπŸ‡¨πŸ‡Ύ Cyprus vs πŸ‡²πŸ‡Ή MaltaTax comparisonπŸ‡¨πŸ‡Ύ Cyprus vs πŸ‡¬πŸ‡§ United KingdomTax comparisonπŸ‡¨πŸ‡Ύ Cyprus vs πŸ‡ΊπŸ‡Έ United StatesTax comparisonπŸ‡ͺπŸ‡ͺ Estonia vs πŸ‡±πŸ‡» LatviaTax comparisonπŸ‡©πŸ‡ͺ Germany vs πŸ‡±πŸ‡» LatviaTax comparisonπŸ‡±πŸ‡» Latvia vs πŸ‡±πŸ‡Ή LithuaniaTax comparisonπŸ‡±πŸ‡» Latvia vs πŸ‡ΈπŸ‡ͺ SwedenTax comparisonπŸ‡±πŸ‡» Latvia vs πŸ‡¬πŸ‡§ United KingdomTax comparison