European Commission Proposes Extension of Latvia’s Reverse Charge Mechanism for Timber Supplies

• European Commission proposes to authorize Latvia to continue using reverse charge mechanism for timber supplies
• This authorization would be in place until 2026
• Reverse charge mechanism shifts responsibility for VAT payment from supplier to customer
• Latvia has been using this mechanism to combat VAT fraud in timber sector

Source: research.ibfd.org

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.