Find general guidance about taxes and requesting tax statement when using Wise Interest.
When you turn on Interest, you’re investing in units in an accumulating money market fund. You can see more information about the funds here.
If you're a tax resident in Latvia, you may need to pay Capital Gains Tax on your Wise fund income.
Capital Gains Tax may become due when you dispose of units in the fund and you realise a gain — through spending, sending, converting or simply moving money within Wise or to an external account. This will trigger Wise to sell units in the fund, known as disposing.
Filing a tax return
Latvian tax residents may need to report their annual investment income from the fund (if applicable), or a separate CGT tax return(s) depending on the value of quarterly gains realised.
You can find more information at the Latvia State Revenue Services (SRS) website.
If you're a sole trader using Wise Interest passively, the guidance above may not apply to you.