On Wednesday, June 15 the high-level working seminar of the representatives of the government, social and cooperation partners and the experts of the World Bank (WB), the Organisation for Economic Development and Co-operation (OECD) and the European Commission (EC) was held regarding Latvia's tax policy challenges in the medium term planning period. The seminar was opened by the Prime Minister Māris Kučinskis.
On Tuesday, May 24, the Minister for Finance Dana Reizniece-Ozola and the Cyprus Minister for Finance Charis Georgiades signed the Convention between the Government of the Republic of Latvia and the Government of Cyprus for the Avoidance of Double Taxation and Prevention of Fiscal Evasion with Respect to Taxes on Income. This will promote the commercial activity, attraction of foreign investments, as well as facilitate the activities of investors in Latvia and Cyprus.
On Tuesday, May 10, Latvia issued so far its longest maturity - 20-year - bonds in amount of EUR 650 million at the lowest borrowing rate among CEE countries for similar long-term transactions, with an annual fixed interest (coupon) rate 1,375% (yield 1,514%) and which was priced at the same coupon level as Latvia’s 10-year bond issued in September 2015. Demand for Latvia’s bonds exceeded 3 times the offer.