Latvian VAT invoice requirements
Date of issuance and storage of Latvian invoices
Latvian VAT invoices must be issued by the fifteenth day of the month following the taxable supply of goods or services. Invoices must be stored for five years. Latvia, like all EU member states, now permits the use of electronic invoices under certain conditions. Invoices must be stored in their original form i.e. electronic invoices in electronic form and paper invoices in paper form.
Latvia invoice requirements
Invoices must contain at least the following basic information:
- Date of issuance
- A unique, sequential number
- VAT number of the supplier
- Full address of the supplier and customer
- Full description of the goods or services provided
- Details of quantities of goods, if applicable
- A date of the supply if different from the invoice date
- The net, taxable value of the supply
- The VAT rate applied, and the amount of VAT
- Details to support zero VAT – export, reverse charge or intra-community supply
- Reference to the VAT law or the directive if the 0%VAT, reverse charge or other special regime applies
- The total, gross value of the invoice
Need help with your Latvian VAT compliance?
Researching Latvian VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.
Latest Latvian news
January 25, 2019
The European Commission (EC) has proposed switching from unanimous to majority voting on EU VAT and other tax policies. The aim is to progress fiscal reforms which face immovable opposition from just a limited number of member states.
January 09, 2019
The EU VAT Directive has been updated from 1 January 2019 to introduce a voluntary generalised reverse charge measure on domestic transactions in member states.
December 28, 2018
Following agreement by EU member states to permit cutting the VAT rate on e-books and online journals to match the reduced/zero rating permitted on their paper-based equivalents, the following countries have already announced reductions...
- Czech Republic
- United Kingdom