This Law primarily focuses on ensuring a global minimum tax level for large international corporate groups, thereby addressing issues related to tax transparency and compliance. The Law operates within the broader context of existing tax regulations and aims to align with international standards, particularly those set by the OECD. Key legal principles include the definition of large international corporate groups based on revenue thresholds and the establishment of fiscal transparency requirements. The document specifies that it applies to large international corporate groups with consolidated annual revenues of at least 750 million euros in two of the last four financial years. It mandates that the ultimate parent company, located in Latvia, must select another entity within the group in a different member state for the preparation of the additional tax information declaration. The Law also outlines the criteria for determining tax residency and the implications of jurisdictional changes for entities within the group. Compliance requirements include adherence to national regulations regarding the global minimum tax level and the submission of relevant financial reports. Implementation of the Law involves the identification of entities subject to its provisions and the establishment of reporting obligations to ensure compliance with the global minimum tax framework. The document emphasizes the need for transparency in financial reporting and outlines the responsibilities of the ultimate parent company in coordinating compliance efforts. Secondary themes include the potential for significant competition distortions if compliance is not achieved, as well as the importance of stakeholder engagement in the reporting process. The Law also addresses procedural considerations related to the assessment of tax liabilities and the enforcement of compliance measures.