Bermuda vs Latvia
Corporate Tax Comparison
Time of Update: Bermuda: 3/24/2026 / Latvia: 4/04/2026
Compare Bermuda and Latvia corporate tax rates, filing due dates, withholding tax, VAT, capital gains tax, and effective tax metrics for cross-border company planning.
Bermuda vs Latvia Corporate Tax Comparison
Basic Corporate Tax Comparison
Corporate Income Tax (CIT)
Bermuda
Latvia
General CIT Rate:
15% (if subject to Bermuda CIT) or 0%.
General CIT Rate:
20 (only payable when distributing profits).
CIT Return Due Date:
If subject to Bermuda CIT, tax returns are proposed to be due by the 15th day of the 10th month following the fiscal year-end.
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. If there is a tax base, the tax return should be submitted on or before the 20th day of each month (quarter).
CIT Payment Due Date:
Upon filing the CIT return (if applicable), a 'true-up' payment considering previous estimated payments must be made no later than the due date of the return, regardless of when the return is filed.
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:
Taxes are paid in instalments.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
The first instalment is proposed to be due by the 15th day of the 8th month after the beginning of the fiscal year, amounting to 50% of the expected tax liability for the year.
The second instalment is due by the 15th day of the 12th month after the beginning of the fiscal year, bringing the total instalments to 90% of the expected tax liability for the year.
CIT Estimated Payment Due Date:
No estimated CIT payment.
Withholding Tax (WHT)
Bermuda
Latvia
Resident Withholding Tax (Dividend/Interest/Royalty):
0
Resident Withholding Tax (Dividend/Interest/Royalty):
NA
None-Resident Withholding Tax (Dividend/Interest/Royalty):
0
None-Resident Withholding Tax (Dividend/Interest/Royalty):
0/0/0
Value-Added Tax (VAT)
Capital Gain Tax (CGT)
Bermuda
Latvia
General Capital Gain Tax Rate:
There is no VAT or sales tax in Bermuda.
General Capital Gain Tax Rate:
Capital gains are constrained by the normal corporate income tax rate.
Effective Tax Rate (ETR)
Bermuda
Latvia
Composite Effective Average Tax Rate:
0
Composite Effective Average Tax Rate:
17.00%
Composite Effective Marginal Tax Rate:
0
Composite Effective Marginal Tax Rate:
0.00%
