Latvia implemented a Value Added Tax in 1995, and its regulations regarding VAT registrations, returns, and adherence to EU VAT Directives are incorporated into its VAT Act. The collection of this tax is overseen by the State Revenue Service, which operates under the Latvian Ministry of Finance.
The Latvian Value Added Tax Law (2012/197.2) came into effect on January 1, 2013, and it governs the imposition of Latvian VAT. Foreign companies, also referred to as “non-resident” traders, may be obligated to register for Latvian VAT if they provide goods or services to local businesses or customers in Latvia. Once registered, they must comply with Latvian VAT standards, including invoicing and VAT rates, and settle any outstanding Latvian VAT obligations.
Source: GVC
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