- The Latvian State Revenue Service clarified rules for the simplified VAT reporting regime for companies with less than 5% taxable transactions.
- A medical services provider with 1% taxable revenue in 2025 asked if it could use the simplified regime for 2026.
- The Tax Agency stated the regime is allowed only if separate records are kept for goods and services related to deductible and non-deductible transactions.
- The taxpayer was not entitled to apply the simplified regime.
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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