The Liechtenstein government has issued a release announcing the conclusion of negotiations with the initialing of an income and capital tax treaty with Latvia on 12 October 2023. According to the release, the treaty is in line with OECD BEPS standards and provides for a withholding tax rate of 10% on dividends and interest and a 5% rate on royalties. The treaty is the first of its kind between the two countries and must be signed and ratified before entering into force.