- The Latvian State Revenue Service updated VAT rules for e-commerce on January 2
- Topics include applying VAT on distance selling within the EU and from third countries
- Covered regimes include union, non-union, and import one-stop shop for goods up to 150 euros
- VAT payers must keep records for 10 years and submit VAT returns quarterly or monthly
- E-commerce platforms have responsibilities for VAT facilitation
- A VAT threshold of 10,000 euros was set on July 1, 2021, for determining the place of supply
- VAT is paid in the buyer’s country if the threshold is exceeded
- The update includes various situational examples
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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