Estonia, Latvia to avoid double taxation
Published:
30 September 2001 y., Sunday
Estonian and Latvian officials have initialed a new agreement on double taxation that will come into force on Jan. 1. Finance ministry officials from Estonia and Latvia held a meeting in Rīga from Monday to Thursday to discuss Latvia's plans to impose an income tax on Estonian firms active in Latvia, although corporate income tax on investments has been abolished in Estonia. The agreement initialed in Rīga is in line with most Estonian tax agreements.
Andrejs Birums, director of the Latvian Finance Ministry's Tax Convention Department,informed that the convention's amended draft would give each country broader rights to set taxes for the other nation's companies operating in their territories. Both countries will use the simple credit method to remove the double taxation problem, said the Estonian Finance Ministry. The right to tax dividends, interests and royalties will be divided between the source country and the resident country. Latvia has also announced plans to reduce corporate income tax to 15 percent from the current 25 percent by the year 2004.
Šaltinis:
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
European Commission Vice-President Siim Kallas, responsible for transport, today presented to the College a preliminary assessment of the economic consequences for the air transport industry of the volcanic ash crisis.
more »
Boosting economic recovery, investing in Europe's youth and in tomorrow's infrastructures are the priorities of the 2011 draft budget adopted by the Commission on 27 April 2010.
more »
European Competition Commissioner Joaquín Almunia welcomes proposed commitments by Visa Europe to significantly cut its multilateral interchange fees (MIFs) for debit card payments.
more »
Because of the Icelandic volcano, flower growers in Colombia couldn't get their stems to markets in Europe.
more »
The Second Vice President of the Spanish government and Minister of Economy and Finance, Elena Salgado, on Sunday played down the importance of apparent fissures within the EU concerning the Greek financial crisis, expressing her confidence that all countries would support the aid package for this country, which will be accompanied by a tough budget-tightening plan.
more »
Commission launches an information campaign on the CE conformity mark - designed to ease the free movement of goods around Europe and protect consumers.
more »
If Europe's airports ever open again the introduction of new security measures like body scanners will be expensive.
more »
After Eurozone Finance Ministers agreed measures to address Greece’s financial woes last Sunday, MEPs quizzed leading economic figures, including the chairman of Goldman Sachs - former financial advisors to the Greek government - on how to strengthen EU economic governance and improve reporting of national statistics.
more »
The European Tourism Stakeholders Conference, being held in Madrid today and tomorrow, will explore ways and means to strengthen the visibility of tourism at a European level and to verify how the actions to promote a competitive EU tourism industry.
more »
The European Bank for Reconstruction and Development (EBRD), World Bank Group member IFC, and The Netherlands Development Finance Company (FMO) have joined up with the Asia Debt Management Hong Kong (ADM Capital) to establish a regional fund to invest in midsize companies facing financing difficulties as a result of the financial crisis.
more »