- Latvia plans to introduce new VAT reductions for books and certain food products starting in 2026.
- A reduced 5% VAT rate will apply to books and publications in Latvian, Latgalian, Livonian, and official languages of the EU, EEA, Switzerland, EU candidate countries, and OECD member states.
- A one-year pilot project will apply a 12% VAT rate to essential food products like bread, milk, poultry, and eggs from July 1, 2026, to June 30, 2027.
- The measures aim to support local languages, address high food prices, and improve competitiveness for domestic producers.
- The government estimates a budget loss of around EUR 32 million due to the reduced VAT on food products.
Source: vatabout.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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