Key facts about proposed e-invoicing in Latvia
On 12 October 2021 the Cabinet of Ministers endorsed the Finance Ministry’s informational report on setting up a system for electronic circulation of supporting documents and consignment documents, with mandatory e-invoicing from 2025. E-invoices are to be mandatory in transactions between businesses (B2B) as well as between businesses and government agencies (B2G).
Although nothing is set in stone just yet, it’s very likely that the proposed e-invoicing obligation will be in line with the Finance Ministry’s informational report. If the ministry drafts appropriate amendments to the Accounting Act, to the VAT Act and to other relevant legislation if necessary, and obtains permission from the European Commission to derogate from the VAT directive, then the changes will affect most taxpayers in Latvia and other EU member states or third countries/territories from 1 January 2025.
To help companies prepare themselves for the upcoming changes, we have put together a brief summary answering frequently asked questions about the proposed e-invoicing mandate in Latvia.
- Why is the e-invoicing mandate being adopted?
- What e-invoicing requirements are expected?
- How do we use the Peppol standard? And what does it entail?
- How will the changes affect companies?
- What steps do we take to get ready for these changes?
To find out more about how the upcoming changes could affect you,
brochure about the latest developments in this area.
If you have any questions about your road towards embracing these changes, please reach out to your regular PricewaterhouseCoopers SIA contact or to the team listed in the attachment.
Contact us
