- Latvian Parliament is considering a bill to amend the VAT Law.
- The bill proposes reducing VAT on firewood and thermal energy for households from 12% to 5% between January 1 and April 30.
- Residential building managers invoicing occupants for these supplies are also included.
- VAT invoices and returns issued at the 12% rate during this period must be corrected once the law takes effect.
- The law would take effect the day after it is promulgated.
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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