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Study: taxes for business in Latvia – the most attractive among Baltic States

Latvia’s tax system is the most attractive among Baltic States and 13th most attractive among 190 countries of the world, according to the latest study performed by the World Bank and PricewaterhouseCoopers on tax systems around the world.

Estonia is ranked 14th and Lithuania is ranked 18th in the Paying Taxes 2018 rating.
 

It is mentioned in the rating that the general tax rate in Latvia is 35.9%. The time spent in Latvia paying taxes is 169 hours. The total number of tax payments in Latvia is seven. The tax rate in Estonia is 48.7%, the time spent paying taxes is 50 hours, and there are eight tax payments in total. The tax rate for businesses in Lithuania is 42.7%, time spent paying taxes is 109 hours, and there are eleven tax payments in total.
 

The average EU and EFTA tax rate is 39.6%, the time it takes for taxes to be administered is 161 hours, and the total number of tax payments is twelve. The average tax rate for companies in the world is 40.5%, the time it takes for taxes to be administered and processed is 240 hours, and a total of twenty four payments are required.
 

The most attractive tax system, according to authors of the study, is Qatar, followed by United Arab Emirates, Hong Kong, Iceland, Bahrain, Kuwait, Singapore, Denmark, New Zealand and Mauritania.
 

Britain is 23rd, Switzerland is 19th, Luxembourg is 21st, Sweden is 27th, Australia is 26th, USA is 36th, Russia is 52nd, Germany is 41st, Ukraine is 43rd, China is 130th and Japan is 68th.
 

The biggest tax system problems are found in Venezuela, which is on last place. Other countries with major tax system problems include Republic of Chad, Central African Republic and Bolivia.

BNN/LETA

21-11-2017
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