Trinidad and Tobago vs Latvia
Tax Rate Comparison
Enter your income below for a personal tax estimate, then scroll down for full rate breakdowns.
💰 Personal Income Tax Calculator
Enter your income to see your estimated annual tax liability in each country — side by side.
Individual Income Tax (Top Marginal Rate)
VAT / GST / Sales Tax
Corporate Tax Rate
Capital Gains Tax
Social Security & Payroll
🇹🇹 Trinidad and Tobago — Municipal & Regional Corporations
Trinidad and Tobago's 14 regional/municipal corporations (including Port of Spain City Corporation) levy property taxes and business licence fees. T&T is a significant energy producer in the Caribbean — natural gas and oil revenues are major fiscal pillars. The country uses a Business Levy (0.6% of gross sales as minimum tax) and a Green Fund Levy (0.3%). T&T has the highest per-capita income in the Caribbean and a well-developed financial services sector.
🇱🇻 Latvia — Municipal Income Tax
Latvia's 119 municipalities levy a local income tax portion — 80% of income tax goes to municipalities, 20% to the state. The effective split means municipalities directly benefit from local earnings. Property tax (nekustamā īpašuma 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.
Trinidad and Tobago vs Latvia: Key Tax Differences (2026)
💰 Income Tax: 🇱🇻 Latvia has a higher top income tax rate (25–30% vs 20–31%). 🇹🇹 Trinidad and Tobago is more favourable for high earners.
🛒 VAT/Sales Tax: Latvia has a higher consumption tax (12.5% vs 12–21%).
🏢 Corporate Tax: 🇱🇻 Latvia offers a lower corporate rate (20% vs 35%), which can influence business location decisions.
📈 Capital Gains: 🇹🇹 Trinidad and Tobago taxes investment gains at a lower rate (0% vs 20%), benefiting investors.