On 7 June, the Foreign Minister signed, on behalf of Latvia, the OECD Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting, which is to close loopholes in the current bilateral tax treaties and lessen the opportunity for tax avoidance.
At the same time, the signing of the Convention also implies making amendments to a large number of bilateral tax conventions which are outdated and not adapted to cross-border operations of modern companies.
