WorldTax Compareโ† All Comparisons

India vs Latvia
Tax Rate Comparison

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

๐Ÿ‡ฎ๐Ÿ‡ณ India
vs
๐Ÿ‡ฑ๐Ÿ‡ป Latvia
Tax Year:

๐Ÿ’ฐ Personal Income Tax Calculator

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

Enter your annual income above to see your personal tax comparison โ†’
Individual Income Tax (Top Marginal Rate)
Top Income Tax Rate
0โ€“30%
Zero tax slab expanded; new regime standard
No change
20โ€“31%
31% top; NATO spending affecting fiscal balance
No change
VAT / GST / Sales Tax
VAT / GST / Sales Tax
0โ€“28%
Further GST rationalization expected
No change
12โ€“21%
21% standard maintained
No change
Corporate Tax Rate
Corporate Tax Rate
22โ€“25%
Pillar Two domestic rules being finalized
No change
20%
20% distributed profits; Pillar Two active
No change
Capital Gains Tax
Capital Gains Tax
12.5โ€“20%
12.5% LTCG equity; 20% property with indexation
No change
20%
20% as income
No change
Social Security & Payroll
Social Security / Payroll
24%
New social security code implementation ongoing
No change
~35.09%
Contribution rates stable; pension II pillar growing
No change
State, Regional & Local Taxes

๐Ÿ‡ฎ๐Ÿ‡ณ India โ€” State, Professional & GST Variation

India's 28 states levy professional tax (up to โ‚น2,500/year), stamp duty on property (3%โ€“8%), and state excise on alcohol. GST has largely unified indirect taxes but petroleum products remain state-controlled. Property tax (nagar nigam) varies by city. Maharashtra, Karnataka, and Tamil Nadu have higher professional taxes.

๐Ÿ‡ฑ๐Ÿ‡ป Latvia โ€” Municipal Income Tax

Latvia's 119 municipalities levy a local income tax portion โ€” 80% of income tax goes to municipalities, 20% to the state. The effective split means municipalities directly benefit from local earnings. Property tax (nekustamฤ ฤซpaลกuma nodoklis) is set by municipalities at 0.2%โ€“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.

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

India vs Latvia: Key Tax Differences (2026)

๐Ÿ’ฐ Income Tax: ๐Ÿ‡ฑ๐Ÿ‡ป Latvia has a higher top income tax rate (0โ€“30% vs 20โ€“31%). ๐Ÿ‡ฎ๐Ÿ‡ณ India is more favourable for high earners.

๐Ÿ›’ VAT/Sales Tax: India has a higher consumption tax (0โ€“28% vs 12โ€“21%).

๐Ÿข Corporate Tax: ๐Ÿ‡ฑ๐Ÿ‡ป Latvia offers a lower corporate rate (20% vs 25%), which can influence business location decisions.

Related Comparisons

๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฆ๐Ÿ‡บ AustraliaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡จ๐Ÿ‡ฆ CanadaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡จ๐Ÿ‡ณ ChinaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฉ๐Ÿ‡ช GermanyTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ญ๐Ÿ‡ฐ Hong KongTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฏ๐Ÿ‡ต JapanTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ณ๐Ÿ‡ฟ New ZealandTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ธ๐Ÿ‡ฌ SingaporeTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฐ๐Ÿ‡ท South KoreaTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡น๐Ÿ‡ผ TaiwanTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡ฌ๐Ÿ‡ง United KingdomTax comparison๐Ÿ‡ฎ๐Ÿ‡ณ India vs ๐Ÿ‡บ๐Ÿ‡ธ United StatesTax comparison