On 28 February 2024, the Latvia Ministry of Finance released the updated domestic list of tax-free or low-tax jurisdictions. The renewed list went into effect on 1 March 2024. In the updated list, Latvia removed Belize, Bahamas, Seychelles, Turks and Caicos Islands from its domestic list. The updated domestic list now includes American Samoa, Antigua and Barbuda, Anguilla, Fiji, Palau, Guam, Panama, Samoa, the Russian Federation, the US Virgin Islands, Trinidad and Tobago, and Vanuatu. This update comes after assessing the EU list of non-cooperative jurisdictions (Annex I) and reviewing the progress made by cooperative jurisdictions in applying tax governance principles (Annex II – “grey list”). The General Affairs Council approved these measures on 20 February 2024.
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