A problem that would be easy to fix

I spent a few days travelling around the businesses of Latvia's southern neighbour. The most problematic tax issue I heard about Latvia was.. the translation of transfer pricing documentation.

Where is the problem coming from?

The problem stands firmly on 2 legs:

1. The State Language Law, which stipulates that documents to be submitted to state or local government institutions must be drafted in the state language;

2. The Taxes and Fees Act, which states that global TP documentation must be prepared in Latvian or English.

• If the global documentation i…