Corporate Tax Comparison

Canada vs Latvia

Compare Canada and Latvia corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.

Published — Canada: 2/14/2024 · Latvia: 2/14/2024 · Time of Update — Canada: 9/27/2026 · Latvia: 9/30/2026

Base Country/Region

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Compare Corporate Tax

Canada

Latvia

Basic Corporate Tax Comparison

PwC World Tax Summary OECD Statistics

Published — Canada: 2/14/2024 · Latvia: 2/14/2024 · Time of Update — Canada: 9/27/2026 · Latvia: 9/30/2026

Corporate Income Tax (CIT)

Canada

Latvia

General CIT Rate:

Federal corporate income tax: 15%. Provincial and territorial CITs range from 8% to 15%.

General CIT Rate:

20 (only payable when distributing profits).

CIT Return Due Date:

After six months from the end of the company's fiscal year.

CIT Return Due Date:

The tax deadline is one month. If taxpayers are allowed to pre-order proof documents quarterly, the tax period is one quarter. The return is filed by the 20th day of the month after each tax period; a period with no taxable object needs no return, except the one covering the last month of the financial year, which is always filed.

CIT Payment Due Date:

Typically, two months after the end of the company's tax year.

CIT Payment Due Date:

If there is a tax base, the tax payable should be paid on or before the 23rd day of the next tax filing period each month.

CIT Estimated Payment Due Date:

Tax installment payments are usually due on the last day of each month.

CIT Estimated Payment Due Date:

No estimated CIT payment.

Withholding Tax (WHT)

Canada

Latvia

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

25/25/25

Non-Resident Withholding Tax (Dividend/Interest/Royalty):

0/0/0

Value-Added Tax (VAT)

Canada

Latvia

General VAT Rate:

5% - 15%

General VAT Rate:

Learn More Value-Added Tax (VAT)

Capital Gain Tax (CGT)

Canada

Latvia

General Capital Gain Tax Rate:

Half of the capital gains are considered as taxable capital gains, recorded as company income and taxed at the regular tax rate.

General Capital Gain Tax Rate:

Capital gains are constrained by the normal corporate income tax rate.

Effective Tax Rate (ETR)

Canada

Latvia

Composite Effective Average Tax Rate:

23.74

Composite Effective Average Tax Rate:

17.00%

Composite Effective Marginal Tax Rate:

13.74

Composite Effective Marginal Tax Rate:

0.00%

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