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Baltic International Bank has been Admitted to the Gold Level of the White List Maintained by the SRS and the MF

News - February 4, 2019

The Ministry of Finance (MF) and the State Revenue Service (SRS) have admitted Baltic International Bank to the Gold Level of the In-depth Cooperation Programme (Padziļinātās sadarbības programma) or so-called SRS White List, thereby acknowledging the transparency of operations as well as tax compliance discipline. The In-depth Cooperation Programme of the State Revenue Service has been improved this year to promote a closer and more efficient cooperation with responsible taxpayers.

‘Baltic International Bank is committed to responsible and transparent business conduct. In our work, we rely on the ESG (Environmental. Social. Governance) approach, where Governance (corporate management) is one of the main blocks. Baltic International Bank pays special attention to the principles of corporate governance, ensuring compliance with Latvian and international legal norms and timely payment of national taxes. Therefore, we welcome the Gold status granted by the MF and the SRS, which was awarded by evaluating the Bank's economic performance, the amount of taxes paid and a number of other criteria’, says Alon Nodelman, Member of the Management Board and Chief Financial Officer of Baltic International Bank.

The sustainability and corporate responsibility of Baltic International Bank is evidenced by the gold award from the Sustainability Index received by the Bank for the second year in a row.

The information published by the SRS shows that the In-depth Cooperation Programme or the White List is designed to promote a closer and more efficient cooperation with responsible taxpayers. Since 1 January 2019, participants of the In-depth Cooperation Programme are admitted to one of three levels: Gold, Silver and Bronze, depending on the volume of business. All companies are assessed on the basis of 15 key criteria to qualify for participation in the programme. Additional criteria apply to grouping, and they are different for each level. The Gold level currently comprises 79 companies.

More information on the SRS website, in the section Padziļinātās sadarbības programma (In-depth Cooperation Programme).

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