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C. HOLDING COMPANIES

There are no special rules for holding companies.

Consequently, a foreign holding company which holds shares in a Latvian company will be liable on the same heads and under the same conditions as any other foreign shareholder or bondholder (for taxation of dividends and interest on bonds paid by Latvian companies to foreign enterprises, see page 293). If, on the contrary, a Latvian holding company holds shares or bonds issued by a foreign company, the income from these securities will be taxable under the same conditions and heads as any other income from capital accruing to a taxpayer domiciled in Latvia from capital invested abroad.

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