Low - Tax and Tax - Free countries in Latvia 2021 (Full list)

Low - Tax and Tax - Free countries in Latvia 2021 (Full list)

With effect from January 1, 2021, regulations on low - tax or tax – free countries and territories in Latvia have entered into force.

As of January 1, 2021, the following 12 countries shall be acknowledged as low tax or tax-free countries: 

• American Samoa
• Anguilla
• Barbados
• Guam (USA)
• Republic of Trinidad and Tobago
• Republic of Seychelles
• The Independent State of Samoa
• Republic of Panama
• Republic of Palau
• Republic of Fiji
• Virgin Islands (USA)
• Republic of Vanuatu

The new Latvian Corporate Income Tax Law (CIT Act) entered into force in year 2018, January 1^st, 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).

As so far, the nature and purpose of the tax rules in Latvia is to identify a list of low-tax or tax - free states and territories with the aim of preventing abuse of the tax system.

Find out which of these countries are not considered as low – tax and tax – free countries in Latvia anymore – here.

To find out more about black listed countries in Latvia, please contact our Tax lawyers in Latvia at info@gencs.eu.

T: +371 67240090

www.baltic-lawfirm.eu

www.attorneys-at-law.eu

www.lavvocato.eu