- European Commission proposes to authorize Latvia to continue using reverse charge mechanism for timber supplies
- This authorization would be in place until 2026
- Reverse charge mechanism shifts responsibility for VAT payment from supplier to customer
- Latvia has been using this mechanism to combat VAT fraud in timber sector
Source: research.ibfd.org
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"
- Comprehensive Guide on Fiscal Devices, Business Processes, Registration, Sales Channels, and Compliance Penalties
- Latvia’s Fiscalization System: Devices, Requirements, Documents, and Support for Compliance
- Key Topics in Regulations for Electronic Tax Recording Devices and Equipment Requirements
- Latvia’s Mandatory Fiscalisation System: Hardware-Based Compliance and Certified POS Requirements
- Key Facts on Fiscal Device Requirements and Compliance for POS Systems
