Latvian Tax News – October 2018

2018 - 10 - 03
Article by: Sandija Novicka, Sabīne Vuškāne

Definitive value added tax system for B2B cross-border trade

COBALT tax practice group has prepared an overview to help companies prepare for the expected changes in the application of VAT on cross-border transactions. Certain measures will be effective from second half of 2019; whereas a full implementation of the measures is expected to be completed in 2022 and 2027 for supply of goods and services, respectively. The introduction of the definitive VAT system is aimed at minimizing opportunities for VAT-related fraud in the European Union as well as at lowering the administrative burden for businesses and tax authorities.

Read the guide to what will change after the introduction of the definitive VAT system >>