Latvia
Overview of CbC reporting requirements
Latvia has implemented the BEPS Action 13 (CbC reporting) minimum standard with one recommendation for improvement.
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
The domestic legal and administrative framework
It is 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. This recommendation remains in place since the 2017/2018 peer review.1
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.
Note
← 1. 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.