Latvia Confirms Gibraltar is No Longer on its Tax Haven Blacklist

06/07/2015 Mark W. Isola KC, Adrian Pilcher

HM Government of Gibraltar is delighted to announce that the Republic of Latvia has now confirmed in writing that Gibraltar is no longer on its tax haven blacklist with effect from 1st November 2014. This follows ongoing representations made by Gibraltar’s Ministry of Financial Services to the Ministry of Finance in Latvia.

A senior Government official from the Republic of Latvia wrote to HM Government of Gibraltar on 1st July 2015 acknowledging that Gibraltar is considered as excluded from the list from the date from which both states are parties to the Convention on Mutual Administrative Assistance in Tax Matters for Latvia.

The Hon Albert Isola, Minister with responsibility for Financial Services said, “I am most grateful to our Latvian colleagues for their response to our petition which was based on the existence of internationally recognised mechanisms for exchange of tax information in force between Gibraltar and the Republic of Latvia.

The Government continues to work tirelessly to be removed from the small number of other blacklists that do not accurately reflect our internationally cooperative stance on tax information exchange.”

Speak to our tax lawyers for more information.

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