Since Latvian Parliament adopted amendments to the law of corporate income tax in 2011, it has become a very attractive choice for international business. These amendments are effective from this year, so this really is a newbie and makes Latvia a new low-tax regime country in Europe. As we know, there are already a list of countries in Europe with tax regimes that are favorable for the establishment of holding companies, such as Cyprus, Malta, Netherlands, Luxembourg, Austria, Denmark, Switzerland and others. However, because of some specific advantages, looks like Latvia will be in a good position to become a great competitor. While, Latvia won’t be able to compete with high pitch jurisdictions such as Luxembourg, Switzerland, it will become a great competitor to Cyprus and Malta.
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