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CYPRUS- LATVIA DOUBLE TAX TREATY ON INCOME AVOIDANCE

The double tax treaty between the Republic of Cyprus and the Republic of Latvia will strengthen the economic and commercial relations between the two countries. The Treaty was signed by the Minister of Finance of the Republic of Cyprus, Harris Georgiades, and the Minister of Economics of the Republic of Latvia, Dana Reizniece-Ozola, in Brussels on 24 April 2016. It should be pointed out that the Treaty is based on OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital.

As stated in the announcement, published on the website of the Cyprus Ministry of Finance, the Treaty will contribute to the further development of commercial and economic relations between the Republic of Cyprus and the Republic of Latvia, as well as with other countries.  In addition, the update, maintenance and expansion of the existing network of Treaties for the Avoidance of Double Taxation, which is of a great economic and political importance, focus on reinforcing and attracting foreign investments and promoting Cyprus as an international business centre.

The lawyers of Michael Chambers & Co. LLC are able to provide you with an adequate legal support on all the matters related to double tax treaties between Cyprus and other countries. Our lawyers may assist you to develop and implement an efficient and effective tax planning strategy. If you wish to speak to one of our lawyers, then please contact us: info@chambers.law