Latvia to Delay Full Global Minimum Tax Roll Out Until 2029

The government of Latvia decided to delay until 2029 full implementation of global minimum tax rules, under a Tuesday decision of the Cabinet of Ministers, the Baltic country’s highest executive body.

As a country with only a handful of ultimate parent entities of groups that qualify for minimum taxation, Latvia is allowed a six-year deferral of full European Union rules on ensuring a global minimum level of taxation for multinational groups and large national groups.

Latvia was among five countries, including Estonia, Lithuania, Malta and Slovakia, to notify the European Commission in December 2023 of their intent to delay ...