- Latvia is transitioning to mandatory e-Invoicing to enhance transparency and compliance with European standards
- Transition will be in two phases, starting with government transactions in January 2025 and extending to private businesses by January 2026
- e-Invoicing aims to increase efficiency, reduce tax fraud, and support businesses through automation
- Phase one focuses on public sector transactions and requires invoices to conform to the Peppol BIS Billing 3.0 standard in XML format
- Benefits for the public sector include increased transparency and accountability
Source: rtcsuite.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Latvia"
- Latvia Defines E-Invoicing Channels and Mandatory SRS Reporting Rules
- Latvia to Cut VAT on Books, Media, and Essential Foods from January 2026
- Excise Duty Law: Significant Increases and New Regulations for Alcoholic Beverages, Tobacco, and Soft Drinks
- Latvia Amends VAT Law: Reduced Rates for Books, Media, and Food Effective January 2026
- Latvia publishes Cabinet Regulation on e-invoicing and e-reporting
