As a regulated investment firm, Nectaro is obligated to share certain account information with the State Revenue Service of the Republic of Latvia (VID) in accordance with the Common Reporting Standard (OECD CRS). This helps ensure transparency and compliance.
The information that is reported includes your account balance at the end of the year and the total gross amount of income earned from your investments in financial instruments. You can find a complete list of the reported information in Section 100 of the Law on Taxes and Duties of the Republic of Latvia (please note that the English version may not include the latest legislative amendments).
It's important to note that your information will only be reported if you are a tax resident of a country that participates in the OECD CRS framework. Nectaro will not report information on individuals who are Latvian residents within the OECD CRS framework, unless their tax residence is in another OECD CRS country.
Remember, as an investor, it is your responsibility to declare the income you earn on Nectaro to your relevant tax authority.
Please be aware that the information provided here is for informational purposes only and should not be considered as legal or tax advice.