The Executive Council of the Principality of Andorra has approved signing an income tax treaty with Latvia following the conclusion of negotiations in January 2024.
The tax treaty, the first between the two nations, aims to establish a convention eliminating double taxation on income and capital between the two jurisdictions. It also intends to eradicate tax evasion or avoidance.
The treaty is expected to enhance the economic relationship and cooperation in tax matters between Andorra and Latvia.
This agreement will have to be signed by both nations and ratified before it can take effect.
