With effect from January 1, 2021, regulations on low - tax or tax – free countries and territories in Latvia have entered into force.
The new Latvian The new Latvian Corporate Income Tax Law (CIT Act) entered into force in year 2018, January 1st, establishing that the tax rate will be increased for all payments received from and transferred to low tax or tax-free countries and territories in Latvia.
The list of low-tax or tax-free countries and territories in Latvia does not include those jurisdictions with which Latvia has a legal basis to exchange information on request, which complies with the International Standard for transparency and information exchange developed in the field of tax in the Global Forum of the Organization for Economic Cooperation and Development (OECD).
To find out full list of countries which shall be acknowledged as low tax or tax-free countries, read our article in our page here and contact our Tax lawyers in Latvia at info@gencs.eu.
T: +371 67240090
