Latvia: Transfer pricing reporting requirements | KPMG | BE

Latvia: Transfer pricing reporting requirements include country-by-country reports

Latvia: Transfer pricing reporting requirements

Regarding mandatory automatic exchange of information of country-by-country (CbC) reports of groups of multinational companies, there are items and action steps for taxpayers to consider before 31 August 2017.

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In Latvia, the CbC reporting year begins 1 January 2016, and reports are to be submitted within 12 months of the reporting date. Therefore, CbC reports about the 2016 financial year in Latvia are due before 31 December 2017. 

  • If a Latvian taxpayer is subject to the CbC reporting rules, the taxpayer must notify the state tax authority, no later than the last day of the reporting year, that the taxpayer has an obligation to prepare and submit the report. 
  • If the taxpayer is not required to submit a CbC report, the taxpayer must notify the tax authority and provide information about the CbC reporting entity and its country of residence. This information about the first reporting year (which begins on 1 January 2016) is due before 31 August 2017.

 

Read a 2017 report prepared by the KPMG member firm in Latvia

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