On 1 March 2016, the Latvian Ministry of Finance published an update on the status of current tax treaty and protocol negotiations. According to the update, Latvia has initialed an income tax treaty with Vietnam and a protocol to the 2002 income and capital tax treaty with Switzerland. In addition, negotiations are underway for tax treaties with Japan and South Africa, as well as a protocol to the 1999 income tax treaty with Singapore.
The treaties will be the first of their kind between Latvia and the respective countries, and the protocols will be the first to amend the respective treaties. All will need to be finalized, signed and ratified before entering into force.
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