Foreign tax relief and tax treaties in Latvia

Persons residing in the country are entitled to relief from double taxes and attractive tax treaties. Foreign tax payable on income in the tax base may be taken as a credit against Personal Income Tax based on proof of income earned and income tax paid as approved by the foreign tax authorities. A tax credit […]

Double tax agreement in Latvia

The term “double taxation agreements” refers to bilateral or multilateral pacts that prohibit the double imposition of taxes on the same income or property by two or more countries (DTAs). The most important objectives of the DTA are to distribute the right to collect taxes among the countries that have agreed to its terms, eliminate […]