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Provided there is no sale of goods and/or services to overseas why do you require a specialist on VAT compliance in Latvia? - VAT returns, claims and reports shall be prepared and submitted under domestic laws
- all documents shall be prepared and submitted in Latvian, also using EDS declaration system
- local experience and knowledge will be required for dealing with Latvian tax authorities
how we can help you ? on the basis of your authorization we will prepare and submit your VAT returns, INTRASTAT and EU sales reports (for goods and services), and will refund your VAT from Latvian tax authorities. The period for VAT returns depends on the following factors: | Taxation period | Threshold | Alternative or additional requirements (without threshold) | Monthly VAT return |
When your VAT taxable sales in previous calendar year exceeded LVL 35 000 (EUR 49 800)
or => | Company is engaged in sale of goods and/or services to overseas irrespective of amount of VAT taxable sales | Quarterly VAT return |
When your VAT taxable sales in previous calendar year range between LVL 10 000 and LVL 35 000 (EUR 14 300 and EUR 49 800)
and => | Provided there is no sale of goods and/or services to overseas | Semi-annual VAT return |
When your VAT taxable sales in previous calendar year were below LVL 10 000 (EUR 14 300)
and => | Provided there is no sale of goods and/or services to overseas | Annual VAT return | If one of the following (a, b or c) conditions is fulfilled upon closing of fiscal year => |
a) a proportion of VATable/ VAT exempt supplies is changed; or
b) VAT/ input tax adjustments are made during the fiscal year; or
c) you conducted certain financial deals |
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