Latvia VAT changes

Sun 17th Jan 2016

The Latvian VAT regime went through a number of minor changes on 1 January 2016. These included:

  • The right to deduct the VAT suffered on passenger cars was cut from 80% to 50%
  • The cash accounting VAT scheme is now available to home management service companies
  • VAT reporting period rights
  • Bad debt VAT credits
  • VAT liabilities on gambling activities