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Application of tax exemption to the armed forces
Since external security risks have significantly increased in our region, military personnel from the armed forces of the allied countries of the North Atlantic Treaty Organization (NATO) and NATO structural units are being stationed more and more often on the territory of Latvia, and military exercises also take place. These types of military operations require […]
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WTS: New VAT rules in Latvia
On 1 January 2021 new tax laws, including new VAT rules and amendments to the existing tax laws entered into force in Latvia. The most important changes include the introduction of a unified tax account for all regular domestic taxes, new payment deadlines, extended temporary reduction of VAT rates for certain fruit, berries, vegetables and […]
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Latvia implements new procedure for refunding overpaid VAT
To support businesses during the coronavirus outbreak Latvia has introduced new VAT measures to speed up the procedure for refunding overpaid VAT. According to the new VAT repayment procedure: The State Revenue Service (SRS) refunds overpaid VAT within 30 days of receiving the VAT return for the respective tax period. Before a refund, the SRS […]