Latvia Presents Draft DTA with Cyprus
February 14 — The Latvian finance ministry on February 6 presented a draft agreement for the avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income with Cyprus.
The agreement aims to promote trade, foreign investment and facilitate investment from both Latvia and Cyprus. The draft DTA includes provisions for the exchange of information in accordance with the Organization for Economic Cooperation and Development model.
The draft DTA must receive approval from the Latvian Cabinet of Ministers before being signed with the Cyprus government. Following the signing, the agreement requires approval from parliament.
Credit: Tax Treaties Analysis