GBAF Logo
Infographic of Latvia-Cyprus Double Tax Treaty highlighting tax benefits - Global Banking & Finance Review
This image illustrates the key points of the Latvia-Cyprus Double Tax Treaty aimed at avoiding double taxation and enhancing trade and investment between the two nations. The infographic highlights the agreement's focus on tax benefits and information exchange, crucial for businesses operating internationally.
Top Stories

LATVIA-CYPRUS DOUBLE TAX TREATY

Published by Gbaf News

Posted on March 13, 2014

1 min read
Add as preferred source on Google
Banking Wealth Management

Drafting the Latvia-Cyprus Tax Treaty

In February 2014 Latvia presented a draft agreement for the avoidance of double taxation and the prevention of fiscal evasion on income taxes to the Cypriot Ministry of Finance.

Purpose and Expected Benefits

The objective of the treaty is to boost trade and aid foreign investment from both countries.

Key Provisions and OECD Standard

The draft agreement presented includes arrangements for the exchange of information based on the Organisation for Economic Cooperation and Development (OECD) model.

Approval and Signing Process

Prior to signing the agreement with the Cyprus Government, the draft must first be approved by the Latvian Cabinet of Ministers.

After the Cyprus Government signs the agreement, the treaty will be required to be approved by the Council of Ministers.

Key Takeaways

  • Latvia presented a draft double taxation agreement with Cyprus in February 2014.
  • The draft follows the OECD model by including exchange of information provisions.
  • Approval requires passage by the Latvian Cabinet before Cyprus Government signature, and then Council of Ministers ratification.

References

Frequently Asked Questions

What is the purpose of the treaty?
To avoid double taxation and prevent fiscal evasion on income taxes, thereby boosting trade and investment between Latvia and Cyprus.
Which model does the draft treaty follow?
It follows the OECD model, particularly regarding provisions for exchange of information.
What are the next procedural steps for the treaty?
First, the Latvian Cabinet of Ministers must approve the draft; then Cyprus must sign it; finally, it requires approval by the Council of Ministers.

Tags

Related Articles

Image for Why Curiosity Is the Hidden Engine Behind Every Big Idea

Why Curiosity Is the Hidden Engine Behind Every Big Idea

Image for The Silent Shift Reshaping Global Finance

The Silent Shift Reshaping Global Finance

Image for The Invisible Forces Rewiring Global Finance—And Why the Shift Is Already Underway

The Invisible Forces Rewiring Global Finance—And Why the Shift Is Already Underway

Image for The Global Finance Reset No One Is Talking About—But Everyone Is Feeling

The Global Finance Reset No One Is Talking About—But Everyone Is Feeling

Image for The Financial Trend Hiding in Plain Sight—Why Everything Feels the Same, But Isn’t

The Financial Trend Hiding in Plain Sight—Why Everything Feels the Same, But Isn’t

Image for The Financial System’s New Rhythm—Why Change Is Happening Without Disruption

The Financial System’s New Rhythm—Why Change Is Happening Without Disruption

More from Top Stories

Explore more articles in the Top Stories category

Image for The Subtle Forces Reshaping Global Finance—And Why They Matter Now
The Subtle Forces Reshaping Global Finance—And Why They Matter Now
Image for The Quiet Realignment of Global Finance—Why the System Is Changing Without a Shock
The Quiet Realignment of Global Finance—Why the System Is Changing Without a Shock
Image for The Global Financial Shift That Feels Small—But Is Changing Everything
The Global Financial Shift That Feels Small—But Is Changing Everything
Image for The Financial System’s Invisible Pivot—Why the Biggest Changes Don’t Make Headlines
The Financial System’s Invisible Pivot—Why the Biggest Changes Don’t Make Headlines
Image for Why Global Supply Chains Are Becoming Smarter, Faster, and More Resilient
Why Global Supply Chains Are Becoming Smarter, Faster, and More Resilient
Image for Why Workforce Agility Is Becoming Critical in the Future of Work
Why Workforce Agility Is Becoming Critical in the Future of Work
Image for Why Global Trade Is Entering a New Era of Resilience and Reinvention
Why Global Trade Is Entering a New Era of Resilience and Reinvention
Image for Why Cybersecurity Is Becoming a Core Business Priority in the Digital Economy
Why Cybersecurity Is Becoming a Core Business Priority in the Digital Economy
Image for Why Data-Driven Decision-Making Is Becoming the Backbone of Modern Business Strategy
Why Data-Driven Decision-Making Is Becoming the Backbone of Modern Business Strategy
Image for How Real-Time Data Is Redefining Decision-Making in the Digital Economy
How Real-Time Data Is Redefining Decision-Making in the Digital Economy
Image for Why Cash Flow Visibility Is Becoming the Most Critical Metric for Business Survival
Why Cash Flow Visibility Is Becoming the Most Critical Metric for Business Survival
Image for How Digital Payments Are Redefining the Speed and Scale of Global Commerce
How Digital Payments Are Redefining the Speed and Scale of Global Commerce
View All Top Stories Posts