Country Latvia
Currency Euro
EU Member State Yes
Standard VAT rate 21%
Reduced VAT rate 12%
VAT registration limit for established businesses 35000 Euros
VAT registration limit for non-established businesses Nil
VAT registration rate for distance sellers 35000 Euros
VAT return filing periods Monthly/Quarterly
Annual returns No (rare exceptions apply)
Intrastat thresholds: dispatches and arrivals 170000 Euros for arrivals/130000 Euros for dispatches
EC Sales Lists frequency Monthly
Additional reporting requirements No
VAT recovery by non-established non-EU businesses Switzerland and Norway only
Reverse Charge Yes for the majority of cross border activity
Fiscal representative required for non-EU businesses Optional
Statute of limitations 3 Years