- Latvian Parliament accepted Bill No. 1048 to amend the VAT Law
- Bill proposes reducing VAT rate from 12 percent to 5 percent
- Applies to medicinal products registered with European Agency
- Includes medicinal products registered in Latvia
- Covers medicinal products with State Agency of Medicines permits
- Includes medicinal products not requiring registration under pharmacy laws
- Applies to registered medical devices and related parts for individual use
- Law set to take effect on January 1, 2026
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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