- Mandatory E-Invoicing Implementation: Latvia is set to implement mandatory electronic invoicing, with support from the Cabinet of Ministers as announced by the Ministry of Finance on September 24, 2024, following public consultation on amendments to the Accounting Law.
- Established Timelines: The e-invoicing mandate will be compulsory for government-to-government (G2G) and business-to-government (B2G) transactions starting January 1, 2025, and will expand to include business-to-business (B2B) transactions by January 1, 2026, requiring submission of e-invoice data to the State Revenue Service.
- Legislative Approval Required: The draft law outlining the e-invoicing framework has received significant support but must be approved by the Saeima (Latvian Parliament) to finalize regulations, including those concerning e-invoice distribution channels, while B2C invoices are excluded from the mandate.
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