E-Invoicing Mandate in Latvia by 2025
E-invoicing mandate for B2G and B2B transactions in Latvia approved. According to the regulation approved, B2G e-invoicing will be mandated by 2025, and B2B e-invoicing by 2026.
Latvia is gearing up for the mandatory implementation of e-invoicing as part of a broader strategy to combat the shadow economy. According to the Law amendments to the Accounting Law (24-TA-438), all companies in Latvia will be required to comply with new e-invoicing standards within the following timelines:
- 1 January 2025 for B2G e-invoicing mandate. This concerns invoices issued to budget entities (B2G transactions).
- 1 January 2026 for B2B e-invoicing mandate. E-invoices will be required for transactions between private entities (B2B), with data to be transferred to the State Revenue Service under a decentralized Continuous Transaction Controls (CTC) model.
The Ministry of Finance has included the e-invoicing mandates in its Shadow Economy Curtailment Plan (2024-2027), which aims to strengthen transparency in prioritized sectors. The plan also includes real-time reporting requirements and the introduction of Peppol standard as an option for e-invoice exchange in Latvia.
Technical specifications and further information is pending to be confirmed. The Law has been recently approved on November 2024. You may take a look at the official website for e-invoicing in Latvia.
Have a look at our overview of e-invoicing in Europe.