On 1 January 2019, the Law of 25 October 2018 amending Latvia's transfer pricing documentation requirements entered into force, including new Master and Local file documentation requirements in line with OECD guidelines that apply for transactions carried out in periods beginning in 2018. The main points of the new documentation requirements are summarized as follows:
- The requirements to prepare a Master file and Local file, or just Local file, apply for resident taxpayers, including PEs of…