Latvia new 5% reduced VAT
- Dec 12, 2017 | Richard Asquith
Latvia's Ministry of Finance has confirmed plans to introduce a new, super reduced VAT rate of 5% from 1 January 2018. The new rate will apply to a range of locally produced vegetables and fruit.
Under the provisions of the EU's VAT Directive, EU member states may have two reduced VAT rates which should be at least 5% or above. Latvia already has a reduced VAT rate of 12%.
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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.
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