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Latvia new VAT Act 2013

  • Dec 15, 2012 | Richard Asquith

Latvia new VAT Act 2013

The Latvian government has approved a new VAT law, which will come into force on 1 January 2013.

Key changes include:

  • Customers may now compile self-billing VAT invoices
  • Businesses will no longer have to revise input VAT on small gifts or loss / damage to property
  • New provisions on the carry forward of VAT credits
  • Option to tax on immovable property
  • Numerous adjustments to the place of supply rules

The above changes have been under review since 2010.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.