On 24 November 2017, the Double Taxation Agreement (DTA) between Hong Kong and Latvia was entered into force after the completion of ratification procedures on both sides. The agreement was signed on 13 April 2016.

The treaty provides for reduced rates of withholding tax on dividends (either 0% or 10%), interest (either 0% or 10%), and royalties (3%). It also includes provisions concerning the taxation of active income and passive income.  There are measures in the treaty concerning the taxation of airlines and profits from international shipping.

The treaty will be in effect in Hong Kong for any year of assessment beginning on or after April 1, 2018.