Latvia

Overview of CbC reporting requirements

First reporting fiscal year: Commencing on or after 1 January 2016

Consolidated group revenue threshold: EUR 750 million

Filing deadline: 12 months following the end of the reporting fiscal year

Local filing required: Yes

Surrogate parent entity filing permitted: Yes

First review of the domestic legal framework: 2017/2018

Summary of recommendations

Area of implementation	Recommendations for improvement
Domestic legal and administrative framework	None.
Exchange of information framework	None.
Appropriate use	None.

The domestic legal and administrative framework

Latvia’s 2017/2018 peer review recommended that Latvia amend or otherwise clarify that the annual consolidated group revenue threshold calculation rule applies in a manner consistent with the OECD guidance on currency fluctuations in respect of an MNE Group whose Ultimate Parent Entity is located in a jurisdiction other than Latvia. A clarification has been issued1 and this recommendation is therefore removed.2

Latvia’s domestic legal and administrative framework meets all the terms of reference

The exchange of information framework

Latvia confirms that its rules have not changed and continue to be applied effectively. Latvia continues to meet all terms of reference.

Appropriate use of CbC reports

Latvia confirms that its rules have not changed and continue to be applied effectively. Latvia continues to meet all terms of reference.

Notes

← 1. https://www.vid.gov.lv/lv/starptautiskie-ligumi-un-administrativa-sadarbiba.

← 2. Latvia’s 2017/2018 peer review included a monitoring point relating to the interpretation of the definitions of “Revenues – Related Party”. This monitoring point remains in place.