Latvia revises domestic list of tax-free or low-tax jurisdictions 

March 05, 2024

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

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Latvia approves draft law to partially enact pillar 2 global minimum tax

January 31, 2024

On 30 January 2024, the Latvian Cabinet of Ministers passed a draft legislation, Law on Ensuring a Global Minimum Tax Level for Large Enterprise Groups, for the partial implementation of the Pillar 2 global minimum tax (GloBE) rules in accordance

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Latvia finalizes implementation of DAC7

December 20, 2023

On 6 December 2023, Latvia issued the Law of 6 December 2023 on Amendments to the Law on Taxes and Fees (Duties). The law allows for enforcing the joint audit rules of Council Directive (EU) 2021/514 concerning the exchange of income information

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Latvia: Parliament passes 2024 budget

December 20, 2023

On 9 December 2023, Latvia's Ministry of Finance of Latvia announced that the parliament approved the 2024 state budget and 19 accompanying laws.  The key amendments include: Amendments to the personal income tax The Personal Income Tax

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Latvia announces to implement pillar two minimum tax rules partially

December 18, 2023

Latvia's Ministry of Finance announced it had finalized a draft legislation for partially implementing the Pillar 2 global minimum tax (GloBE) rules as per Council Directive (EU) 2022/2523 of 14 December 2022. The partial implementation

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OECD: Peer Review Report on Tax Transparency and EOI in Latvia

November 15, 2023

On 8 November 2023 the OECD’s Global Forum published the second-round peer review report on Latvia’s implementation of the standard on transparency and exchange of information (EOI). Latvia’s implementation of the EOIR standard was given an

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Latvia presents proposed tax measures for the 2024 budget

October 10, 2023

On 26 September 2023, the Latvian Ministry of Finance released an official statement announcing that the Cabinet of Ministers has reviewed an informative report on developing the National Tax Policy Guidelines for 2024-2027. The report includes

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Latvia publishes law transposing public CbC reporting into domestic law

September 30, 2023

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

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OECD: Stage Two Peer Review Report on Latvia’s compliance with BEPS action 14

July 29, 2021

On 26 July 2021 the OECD published the stage 2 peer review report on Latvia in relation to making dispute resolution mechanisms more effective under action 14 of the action plan on base erosion and profit shifting (BEPS). The minimum

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DAC6 Updates: Optional deferral of DAC6 reporting deadlines

July 30, 2020

On 24 June 2020, the European Council reached agreement on an optional 6-month postponement to the reporting deadlines for relevant taxpayers under EU Directive 2018/822 (DAC6), and a delay to the exchange of information under

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Latvia defers tax payments for a period of up to three years

July 14, 2020

In June 2020, Latvia approved an extension of tax measures to provide continued support beyond the end of the state of emergency for COVID-19. Under the support measures, the possibility to defer tax payments for a period of up to three years is

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Latvia defers the first mandatory disclosure rules (DAC 6) reporting deadlines

July 09, 2020

On 29 June 2020, Latvian Ministry of Finance has announced that the first reporting deadlines of cross-border arrangements (DAC6) provided by Council Directive (EU) 2020/876 will be deferred by six months in order to provide taxpayers and

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Latvia: Cabinet of Ministers approves the regulations to implement mandatory disclosure rules

May 07, 2020

On 17 April 2020, the Latvian Cabinet of Ministers approved the regulation “Rules on automatic exchange of information on reportable cross-border arrangements” to implement the European Union (EU) directive on mandatory disclosure and the

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COVID-19: Latvia announces tax relief measures to support businesses

March 29, 2020

On 20 March 2020, the Latvian Parliament passed a special law on support measures related to the COVID-19 pandemic. The law took effect retrospectively on March 12, 2020, when a state of emergency was declared in Latvia. Companies on a state-

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Latvia publishes a law for the implementation of DAC6

March 17, 2020

On 5 March 2020, the Latvian Official Gazette published the law implementing the directive on the mandatory automatic exchange of information in tax matters connecting to cross-border arrangements. Any cross-border arrangement that falls under

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Latvia: MLI enters into force

February 29, 2020

On 28 February 2020, OECD has published the update list of signatories and parties to the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI). Accordingly, MLI entered into force for

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Latvia implements EU ATAD hybrid mismatch measures

February 27, 2020

On 11 February 2020, Latvia published the Law of 30 January 2020 on Amendments to the Corporate Income Tax Act in the official gazette. The law includes the provision for the implementation of the hybrid mismatch measures of the EU Anti-Tax

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EU tax dispute resolution directive enters into force in Latvian domestic law

November 29, 2019

On 22 October 2019, the Law of 17 October 2019 on amendments to the Law on Taxes and Duties has been published in the Latvian official gazette, which provides for the implementation of Council Directive (EU) 2017/1852 of 10 October 2017. The

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