E-Invoicing Mandate in Latvia by 2025

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 draft 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, and the Law is still in draft and public consultation period was closed in June 2024. You may take a look at the official website for e-invoicing in Latvia, as well as the draft law proposal.