On November 7, The Ministry of Foreign Affairs of Latvia via diplomatic channels received an official communication from the Russian Federation stating that Russia has completed procedures under its national legislation to enable the coming into force, as from 6 November this year, of the Agreement between the Government of the Republic of Latvia and the Government of the Russian Federation on the Prevention of Double Taxation and Tax Evasion in Regard to Income and Capital Tax. Thereby, in accordance with the provisions of the Agreement, it will be officially applied as from 1 January 2013.
The purpose of the agreement on preventing double taxation and tax evasion is to relieve physical and legal persons in both countries of being double-taxed on one and the same income or capital. The agreement guarantees against tax discrimination and lays down procedures for resolving taxation disputes, as well as means of preventing double taxation.
The Agreement was signed on 20 December 2010 during the visit to Moscow by the President of Latvia Valdis Zatlers.
More information about taxes can be found in section on Taxes in Latvia.
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