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Friday, 26.04.2024, 15:34
Latvia, Cyprus sign convention for avoidance of double taxation
BC, Riga, 25.05.2016.
Print version
Print versionLatvian Finance Minister Dana Reizniece-Ozola (Greens/Farmers) and the Finance Minister of Cyprus, Charis Georgiades, in Brussels signed the Convention for the Avoidance of Double Taxation and the Prevention of Fiscal Evasion with Respect to Taxes on Income, the Latvian Finance Ministry said LETA.
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| Photo: fm.gov.lv |
The Convention will stimulate business growth, influx of foreign investments and will make it easier for investors to operate in Latvia and Cyprus.
So far Latvia has held negotiations about signing of tax conventions with 69 countries, and 58 such conventions have taken effect. Up to now, Latvia had signed tax conventions with all EU member states, except for Cyprus.
After the signing the Convention needs to be ratified by the Latvian parliament. It is expected that the Convention will take effect before the end of this year.
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