- Purpose and Scope: The report aims to provide updates on the implementation of structured electronic invoices (e-invoices) in Latvia, detailing actions taken by various government agencies to comply with EU directives and national regulations, with full implementation expected by January 2026.
- Regulatory Framework: E-invoice usage becomes mandatory for business-to-government (B2G) transactions from January 2025 and for business-to-business (B2B) transactions from January 2026, aligning with EU goals to standardize e-invoice systems across member states.
- Implementation Challenges: The transition to e-invoices highlights the need for extended preparation time due to low digital maturity among Latvian businesses, with many lacking adequate accounting software solutions, necessitating support and adaptation periods.
- Technical and Legislative Adjustments: Proposed changes include enhancing e-address functionalities for non-budgetary entities, developing validation mechanisms for e-invoices, and revising legal frameworks to facilitate seamless data exchange and compliance.
- Action Plan and Timeline: Key activities include creating guidelines for e-invoice preparation, conducting awareness campaigns, improving e-address infrastructure, and potentially extending the mandatory implementation deadline to January 2027 to ensure readiness.
Source gov.lv
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
