December 2020: International Tax Planning Review
14 January 2021
Cyprus starts creating a beneficial ownership register The Council of Ministers of Cyprus has appointed a competent authority responsible for registration of beneficial owners of
News and articles
Unavailability of deposits of PNB Banka
15 August 2019
15 August 2019 the Financial and Capital Market Commission of Latvia (Lat. Finanšu un kapitāla tirgus komisijas, FCMC), being a regulatory authority of financial services
Difficulties of SWIFT functioning in Latvia
10 December 2018
27 November 2018 during the session of Saeima (legislative body of Latvia) it was informed that the international interbank system of telecommunications and payments SWIFT
Restrictions of servicing of shell companies in Latvian banks
11 May 2018
On 26 April 2018 Seim of Latvia has approved an Amendment to Law on the Prevention of Money Laundering and Terrorism Financing in second reading
Latvia has included Russia in the list of countries for automatic exchange
25 April 2018
On 13 April 2018 Cabinet of Ministers of Latvia has amended Regulation No. 20 of 5 January 2016 that establishes Procedures by which a Financial
Latvian banks to stop servicing shell companies’ accounts
30 March 2018
In the late March 2018 the financial authorities of Latvia have announced a dramatic change in their policy in respect of so called “shell companies”
Reitumu Banka has suspended services in US Dollars
16 March 2018
14.03.2018 an informational message that Euro will be the main operational currency of Latvian bank Reitumu Banka due to the difficulties of processing transactions in
ABLV Bank: recent events
2 March 2018
26.02.2018 an informational message that the bank’s management made a decision on self-liquidation was published on the official website of the Latvian bank ABLV Bank,
Highlights of tax reform in Latvia
27 January 2018
Since January 1, 2018, new legal acts regulating the main types of taxes have entered into force in Latvia, such as the Corporate Income Tax
Latvia enacts rules for filing registers of beneficial owners
24 November 2017
On 9 November 2017 legislative bodies of Latvia enacted amendments tool “Anti Money Laundering and Terrorist Financing Law” (“the Act”). The main innovation made is