- The Latvian State Revenue Service issued updated guidelines on VAT for voucher transactions on December 10
- A voucher is defined as an instrument accepted as payment for goods or services and specifies what is supplied or who the suppliers are
- For single-purpose vouchers, VAT is calculated at the time of sale for VAT payers who sell these vouchers under their own name and supply goods or services
- For multi-purpose vouchers, guidelines specify when VAT must be reported in VAT returns
- Additional guidance covers VAT for other voucher-related transactions
- Examples are provided to illustrate various scenarios
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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