The Latvian Parliament (Saeima) has announced the passage of legislation for the implementation of major tax reform measures on 28 July 2017. The main measures announced are summarized as follows:
Corporate Tax Changes
A new corporate tax regime — the reinvested profit model — will be introduced, which includes that the payment of tax will be suspended until profits are distributed or used for purposes other than ensuring the company’s further development. Distributed profits will be sub…