The impact of the global minimum tax in Latvia

Since 2024, new global minimum tax rules have come into effect in several European Union countries, requiring a minimum tax rate of 15% for large multinational corporate groups. Although Latvia is currently using a transitional period, companies must already prepare for reporting obligations and assess the impact on their financial processes. 

• How is the tax being implemented in Latvia? 

• What tasks must corporate groups perform to ensure they pay at least 15% tax on income earned in each jurisdiction? 

• What challenges might corporate groups face when implementing the Pillar 2 rules? 

Answers to these and other questions can be found in a publication by WALLESS tax practice head Ingūna Ābele on iFinanses. 

Read here: https://bit.ly/40l0DZW