Identifier
Created
Classification
Origin
07RIGA179
2007-03-09 05:13:00
UNCLASSIFIED
Embassy Riga
Cable title:  

Latvian concerns on proposed bill on tax havens

Tags:  ECON KCRM PREL LG 
pdf how-to read a cable
VZCZCXYZ0012
RR RUEHWEB

DE RUEHRA #0179 0680513
ZNR UUUUU ZZH
R 090513Z MAR 07
FM AMEMBASSY RIGA
TO RUEHC/SECSTATE WASHDC 3847
INFO RUEATRS/DEPT OF TREASURY WASHDC
UNCLAS RIGA 000179

SIPDIS

SIPDIS

E.O. 12958: N/A
TAGS: ECON KCRM PREL LG
SUBJECT: Latvian concerns on proposed bill on tax havens


On March 7, Latvian MFA U/S for economic affairs Maija Manika
convoked pol/econ chief to register Latvian concerns on legislation
recently introduced in the Senate designed to end abusive tax havens
(other topics of meeting covered septel). Manika said that Latvia
was especially concerned about the legislation's proposed
designation of Latvia as an "offshore secrecy location." Presenting
a non-paper on the subject (e-mailed to EUR/NB),Manika said that
Latvia was proud of recent work to clean up its banking sector and
bring it in line with OECD, IMF and UN treaty standards. Manika
said that Latvia recognized that this was a legislative branch issue
and the Latvian Embassy in Washington would be approaching the
offices of the legislation's sponsors, but wanted to make the
Embassy aware of Latvia's strong concerns that the legislation
unfairly portrays Latvia's financial sector in a negative light.
Pol/econ chief noted that Manika was correct that this was a
legislative prerogative, but agreed to report Latvia's concerns back
to Washington.

Antweiler