Much has already been written about this, but it is probably worth summarizing in one place – what are the most significant changes in Latvian taxes that will come into effect as of January 2026.
- CBAM. From January 1, 2026, import duties must be paid on CO2 emissions generated outside the EU from the production of the following goods: cement, electricity, fertilizers, iron and metal, aluminum, hydrogen. Each of these goods has its own CN (customs) code, which is specified in the relevant regulation. Until now, these only had to be declared at the time of import. Essentially, the aim of this system is to make production outside the EU equivalent to production within the EU in terms of payments for CO₂ emissions.
Read the full story by tax expert Jānis Taukačs here.
