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
The European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF).
more »
The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level.
more »
Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15.
more »
World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat.
more »
These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB).
more »
The European Investment Bank (EIB) today signed its first loan agreement with Armenia.
more »
Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area.
more »
The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS).
more »
The European Commission today approved a new financial support package of €135 million for Morocco.
more »
The European Commission is allocating an extra €10 million in humanitarian aid for Liberia.
more »