Latvia
VAT Name :
Pievienotas vertibas nodoklis (PVN)
VAT Number Format :
12345678901 (11 characters)
VAT Information Offices :
Valsts ienemumu dienesta, Klientu apkalposanas centrs, (Riga Client Service Centre) Talejas Street 1, RIGA LV -1978
RATES
| Rate | Type | Which goods or services |
|---|---|---|
| 21% | Standard | All other taxable goods and services |
| 12% | Reduced | Reduced books (excluding E-books); Certain foodstuffs; Listed medicinal products; Medical equipment; Passenger transport; Educational books; Certain newspapers and periodicals; Hotel accommodation; Heating for households; Firewood for domestic use |
| 5% | Reduced | Fresh fruits and vegetables |
| 0% | Zero | Intra-EU and international transport |
EXEMPTIONS
- Letting of residential property (excluding short term letting)
- Lotteries and gambling
- Education services, medical services, cultural services
- Financial and insurance services
- Gifts and donations for humanitarian aims
- Supply of land
- Option to tax can apply in certain cases to the supply of an existing building if the customer is a taxable person
THRESHOLDS
Registration Threshold : EUR 50.000
(below threshold registration can be on a voluntary basis); where threshold exceeded by a single transaction that transaction may be ignored for the purposes of notification if in next 12 months no other taxable transactions are planned
Distance Selling Threshold : EUR 35.000
Intra-Community Acquisition Threshold : EUR 10.000
Dispatches : EUR 120.000; EUR 4.000.000 for detailed returns
Arrivals : EUR 220.000; EUR 2.500.000 for detailed returns
VAT Free Shopping for Tourists : EUR 35
Non-Resident : Non-resident businesses without a fixed establishment must register for VAT (nil threshold)
PENALTIES
Late Filing : 10% charge of VAT due plus interest of 0.05% per day
Other :
– In addition, fixed penalties up to EUR 722 for late filing and late payment
– Penalties may apply in cases of tax fraud, evasion, etc.
– Penalties for incorrect information up to 50% of the VAT due
DEADLINES
Assessment Period : 3 years
Standard Tax Period : Monthly, quarterly, semi-annually. Annual returns only in certain cases.
Electronic filing – by 20th day after end of reporting period
EC Sales Lists – monthly, submitted by 10th day following reporting period
Intrastat – 10th working day following reporting period
Non-standard periods – 10th of the month following reporting period