Company formation in Latvia
Latvia has a corporate tax rate of 15%, which is one of the lowest in the European Union. Companies that operate under VAT have to pay tax on purchases at 21%. Certain services, like those related to food products for infants, pharmaceutical products, medical products for disabled persons, domestic passenger transport, books (excluding e-books), newspaper and periodicals, and others, benefit from a 12% VAT rate.
https://www.confiduss.com/en/jurisdictions/latvia/business/company-formation/