Latvia's Ministry of Finance is finalizing draft amendments to the Corporate Income Tax law for the introduction of controlled foreign company (CFC) rules in line with the EU Anti-Tax Avoidance Directive (ATAD1). Latvia currently has no CFC rules but as an EU Member State, is required by the Directive to implement CFC rules effective from 1 January 2019. As per the Directive, Member States may apply CFC rules for the inclusion of specified passive income of a CFC in a resident taxpayer's tax …