Latvia has the third most competitive tax system among the member states of the Organization for Economic Cooperation and Development (OECD), according to the latest International Tax Competitiveness Index, drawn up by the US think tank Tax Foundation.
Latvia has placed third overall in the 2019 International Tax Competitiveness Index Rankings, trailing only Estonia and New Zealand.
Latvia has shown the best performance in the corporate taxes ranking, where it has taken the first position. Latvian consumption taxes, meanwhile, have been ranked 29th most competitive among 36 OECD members. Latvia has ranked 6th by the competitiveness of its property and individual taxes and its international tax rules are the 7th most competitive.
Estonian taxes have been ranked as the most competitive among the OECD member states for the sixth consecutive years. The tax system of New Zealand has been ranked second most competitive, followed by Lithuania, Switzerland, Luxembourg, Australia, Sweden, the Netherlands and the Czech Republic.