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Latvia: Domestic Corporate Taxation

Calculation of Taxable Base

Taxable income includes trading income, passive income and capital gains. Dividends received from local or EU entities and gains realised from EU securities are exempt.

Losses can be carried forward for five years (eight years from 2010) in the order in which they were incurred; losses cannot be carried back.

There is no alternative minimum tax.

Normal business expenses are deductible from income. Tax credits are available for various types of investment. Foreign tax credits are available up to the level of Latvian tax that would have been payable on the income concerned.



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