- Mandatory E-Invoicing Implementation: Latvia is set to implement mandatory electronic invoicing, with support from the Cabinet of Ministers as announced by the Ministry of Finance on September 24, 2024, following public consultation on amendments to the Accounting Law.
- Established Timelines: The e-invoicing mandate will be compulsory for government-to-government (G2G) and business-to-government (B2G) transactions starting January 1, 2025, and will expand to include business-to-business (B2B) transactions by January 1, 2026, requiring submission of e-invoice data to the State Revenue Service.
- Legislative Approval Required: The draft law outlining the e-invoicing framework has received significant support but must be approved by the Saeima (Latvian Parliament) to finalize regulations, including those concerning e-invoice distribution channels, while B2C invoices are excluded from the mandate.
Source Comarch
Click on the logo to visit the website
Latest Posts in "Latvia"
- Latvia Government Approves 12% VAT Cut on Basic Foods Starting July 2026
- Latvia Enforces Strict Penalties for Non-Compliance with Fiscalization Rules
- Finance Ministry Names Responsible Parties for Ensuring Reduced VAT Benefits Reach Consumers
- Latvia Parliament Amends Tax Administration Rules on Late Payment Interest
- Latvia to Raise VAT on Russian-Language Publications from 5% to 21%
