Spiralling global electricity and gas prices force another European country to introduce VAT subsidy The Baltic state of Latvia is considering reassigning domestic electricity supplies from the standard VAT rate to 5% for 2023. The bill is now with Parliament. Any cut would include gas
Continuous Transaction Control (CTC) e-invoicing to follow other EU states Latvia is proposing to introduce B2B electronic invoices by January 2025. This was proposed by the Ministry of Finance, and reviewed by the Council of Ministers this week. Under the EU invoicing rules, Latvian public
The Baltic state of Latvia has moved the VAT return and payment from 20th to the 23rd of the month following the reporting period. Most businesses are on quarterly filing in Latvia unless they have intra-community supplies exceeding €50,000 per annum when they are on
COVID-19 tax support to key sectors The Baltic state of Latvia has introduced a reduced Value Added Tax rate of 5%. This will apply to certain fresh fruit, berries and vegetables. This includes fresh shelled, cut and packed produce. The new rate will only be
