1. Postponing VAT payments
2. Using overpaid VAT
3. Using and archiving electronic invoices
4. Self-billing
5. Loss of inventory
6. Refund of VAT paid abroad
7. Adjusting VAT on bad debts
8. A reduced rate, an exemption or a transaction outside the scope of VAT
9. VAT grouping
10. A special VAT scheme for imports
11. The value of imports
12. Manufacturer’s ability to reduce VAT on discounts allowed directly to end consumer
13. Reassessing any undeducted input tax
14. Evaluating chain transactions
15. Opportunity to adjust invoicing conditions and periods
16. Government sanctions
Source: PwC Latvia
Latest Posts in "Latvia"
- Parliament Adopts 2026 Budget: Reduced VAT on Food, Maintains Lower Rate for Books and Periodicals
- Latvia Sets E-Invoicing Rules: Mandatory Reporting, Channels, and Deadlines from 2026 to 2028
- Latvia Clarifies VAT Simplified Regime Rules for Companies With Minimal Taxable Transactions
- Latvia Establishes Tax and Customs Police to Strengthen Fight Against Financial Crime
- Latvia Proposes Lower VAT on Firewood and Heating, Requires Invoice Corrections
