VAT Returns – Latvia

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

RateTypeWhich goods or services
21%StandardAll other taxable goods and services
12%ReducedReduced 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%ReducedFresh fruits and vegetables
0%ZeroIntra-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 100.000; EUR 4.000.000 for detailed returns
Arrivals : EUR 200.000; EUR 2.500.000 for detailed returns
VAT Free Shopping for Tourists : EUR 35

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 working day following reporting period