On 27 September 2023, the Latvian government released the “Information on Revenue and Income Tax Disclosure Law” in the Official Gazette. This law outlines the framework for the adoption of public Country-by-Country (CbC) reporting, aligning Latvia with the provisions of Directive (EU) 2021/2101.
The Directive (EU) 2021/2101 requires that multinational enterprises (MNEs) operating within the EU, as well as non-EU based doing business in the EU through a branch or subsidiary, must publicly disclose specific income tax details if their total consolidated revenue exceeded EUR 750 million in each of the last two consecutive financial years.
