On 2 November 2016, officials from Latvia and Switzerland signed a protocol to the 2002 income tax treaty between the two countries. According to a release on the signing from the Swiss Federal Council, the protocol updates Article 26 (Exchange of Information) to bring it in line with the OECD standard for information exchange, lowers taxation of levies and distributed profits on qualified participations, and adds a principal purpose anti-abuse clause.
The protocol is the first to amend the…