Latvia Gazettes Law Implementing Amendments Under DAC8, Crypto-Asset Reporting Framework

The Latvian Official Gazette Nov. 21 published a law implementing amendments under the Crypto-Asset Reporting Framework (CARF) and the automatic exchange of information (AEOI) on financial account information. The law includes measures: 1) implementing provisions under Directive 2023/2226/EU on administrative cooperation in the field of taxation (DAC8) and Regulation 2023/1114/EU on crypto-asset markets; 2) clarifying the scope and format of transfer pricing documentation, including electronic submission; 3) introducing a controlled transaction report for transactions exceeding 250,000 euros (US$288,246) per year; 4) requiring covered taxpayers to file their reports within 12 months after the end of the reporting year; 5) restricting ...