- The Latvian State Revenue Service announced changes to the VAT registration threshold for 2025
- Entrepreneurs with a 2024 turnover of 50,000 euros must register for VAT by January 15, 2025
- The 50,000 euro threshold is based on the 2024 calendar year turnover
- The threshold calculation excludes the supply of fixed assets, intangible investments, and occasional VAT-exempt transactions
- Taxpayers with a 2024 turnover between 50,000 and 55,000 euros can delay VAT registration until the end of 2024
- Companies only conducting VAT-exempt transactions and exceeding the threshold may choose not to register in 2025
- These changes will be effective from 2025
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.
