- Latvia has approved an e-invoicing mandate for B2G (Business-to-Government) transactions to be implemented by January 1, 2025, and for B2B (Business-to-Business) transactions by January 1, 2026, as part of its strategy to combat the shadow economy.
- The new regulations, outlined in the amendments to the Accounting Law, require that all companies comply with e-invoicing standards, including data transfer to the State Revenue Service under a decentralized Continuous Transaction Controls (CTC) model for B2B transactions.
- The e-invoicing mandates are part of the Ministry of Finance’s Shadow Economy Curtailment Plan (2024-2027), which aims to enhance transparency and includes real-time reporting and the introduction of the Peppol standard for e-invoice exchange in Latvia, with further technical specifications to be confirmed.
Source Marosa
See also
- E-Invoicing/Real Time Reporting – What can you find on VATupdate.com
- Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Collection of E-Invoicing Guides – Worldwide – VATupdate
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
