Latvia has published the law approving the ratification of a new income and capital tax treaty with Andorra on 12 December 2024.
Signed on 21 December 2024, this agreement is the first tax treaty between the two nations. The treaty seeks to eliminate double taxation and prevent fiscal evasion and avoidance concerning income and capital taxes between Latvia and Andorra.
The agreement will take effect after the exchange of ratification instruments and will apply starting 1 January of the year following its implementation.