- Latvian State Revenue Service issued Letter No. P005-17/8.6.1/71027 on VAT liability for transfers of fixed business assets
- Taxpayer, an individual registered for VAT, planned to transfer assets to new farm
- Tax Agency clarified that transfer couldn’t be considered a company transfer under Commercial Law
- Taxpayer not required to calculate VAT due to lack of property in new farm
Source: news.bloombergtax.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.
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