The treaty effectively removes Hong Kong from Latvia’s list of “low tax” jurisdictions.
The treaty will enter into force once it is ratified by each jurisdiction. If the ratification process is completed in 2016, the treaty provisions will be effective in Hong Kong beginning 1 April 2017 and effective in Latvia beginning 1 January 2017.
Read an April 2016 report [PDF 157 KB] prepared by the KPMG member firm in Hong Kong: Hong Kong and Latvia conclude Double Tax Agreement
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