New Double Tax Treaty between Cyprus and Latvia

The Republic of Cyprus and the Republic of Latvia concluded an agreement for the avoidance of Double Taxation on income, in Brussels on April 24, 2016.

The Treaty was signed by the Minister of Finance, Harris Georgiades, on behalf of the Republic of Cyprus, and the Minister of Economics, Dana Reizniece-Ozola, on behalf of the Republic of Latvia.

According to the announcement published on the website of the Ministry of Finance of Cyprus, the Treaty is expected to contribute to the further development of the economic relations between the Republic of Cyprus and the Republic of Latvia, as well as with other countries.

The Treaty is based on the OECD Model Convention for the Avoidance of Double Taxation on Income and on Capital.

For further information on the Cyprus network of double tax agreements and on how you can implement them in your tax planning strategy, you can get in touch with our tax experts.