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Commentary

Postponed accounting (Latvia)


27 Latvia

Businesses importing fixed assets into Latvia can use postponed VAT accounting without a special authorisation or permit from the tax authorities if:

  1. Ìý

    •ÌýÌýÌýÌý the fixed assets will be fully or partly used for taxable supplies made by the business within 12 months from the time of importation;

  2. Ìý

    •ÌýÌýÌýÌý the value of the fixed assets is at least €700; and

  3. Ìý

    •ÌýÌýÌýÌý the business does not have any outstanding tax debts.

For example, a car hire company would be able to use postponed accounting if it imported passenger vehicles as these vehicles will be used for taxable business purposes by the importer.

Fixed

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Web page updated on 17 Mar 2025 16:18