Phase 1 Peer Review Report Summary: Latvia

 

Latvia has a legal and regulatory framework in place that ensures the availability, access and exchange of all relevant information for tax purposes in accordance with the international standard. Availability of ownership, accounting and banking information is ensured through comprehensive requirements under Latvian law. The Latvian competent authority has broad access powers which can be used for exchange of information purposes. However, access to bank information under several treaties might be limited and therefore not in line with the international standard. Latvia has an extensive EOI network covering 91 jurisdictions. Latvia’s response to the recommendations in this report, as well as the application of the regulatory framework in practice, will be considered in the Phase 2 Peer Review, which is scheduled for the second half of 2014. For further information on Latvia's exchange of information practices and to read the full report click here