On 19 December 2018, Latvia published in the Official Gazette the Law of 13 December 2018 on Amendments to the Corporate Income Tax Act, which provides for the implementation of new controlled foreign company (CFC) rules in line with the EU Anti-Tax Avoidance Directive (ATAD). The key points of the CFC rules are as follows:
- The rules apply in respect of foreign permanent establishments and foreign companies where the Latvian taxpayer itself or together with related parties holds/owns a dire…