The objective of the double tax treaty is to boost trade and aid foreign investment from both countries.
The draft agreement presented includes arrangements for the exchange of information based on the Organisation for Economic Cooperation and Development (OECD) model.
Prior to signing the agreement with the Cyprus Government, the draft must first be approved by the Latvian Cabinet of Ministers.
After the Cyprus Government signs the agreement, the treaty will be required to be approved by the Council of Ministers.
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