Latvia operates a special margin scheme for dealers in second-hand goods, as required by the Principal VAT Directive. The margin scheme enables the dealer to account for VAT on the difference between the purchase price and the selling price of the asset (ie on the profit margin received). Use of the scheme is optional.
Businesses that are dealers in second-hand goods, works of art, collectors' items and antiques can use the scheme
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Web page updated on 17 Mar 2025 16:02