Latvia’s decision to mandate e-invoicing is aimed at modernizing financial processes, increasing transparency, and improving tax compliance. This move will help reduce administrative burdens and combat tax fraud, while companies benefit from lower operational costs, automated invoice processing, and fewer errors.

Starting January 1, 2025, e-invoicing will become mandatory for transactions with public sector entities. For companies not yet using digital invoicing, this will mean upgrading their invoicing processes, which could require investment in software and training.

A mandate for all B2B transactions will follow on January 1, 2026. Companies will need to ensure they have the right infrastructure in place, possibly integrating with existing ERP or accounting systems.

For more details click here, on Latvian official website.

 

Timeline

1st January 2025: Mandatory e-invoicing to budget entities (B2G) in Latvia;

1st January 2026: Mandatory e-invoicing for all B2B transaction in Latvia.

 

Present Regulations

Currently, all transactions, including B2B, B2C, and B2G, are voluntary, giving businesses time to adjust and prepare for upcoming changes.

Click here for a full Invoicing Guide for Latvia.

 

Need Help With Compliance?

With Space Invoices, you can utilize a single API for global invoicing compliance including current and future Latvian regulations. Our API streamlines all e-invoicing processes, saving you time and reducing costs while eliminating manual errors. Why spend time on invoicing when we can handle all invoicing responsibilities, allowing you to focus on growing your company?

For more information on the API and compliance, click here or contact us.

 

 

The information in this guide is strictly informative, as regulations and timelines change frequently. While we make every effort to monitor updates and maintain the accuracy of our content, we recommend consulting with a tax professional or e-invoicing specialist for the most reliable and personalized advice. The latest update was made on August 28, 2024.

 

Additional reading:

• 3 Best White-Label Invoicing APIs for B2B SaaS, Fintech, and Neobank Platforms
• Ask Your Developer: Key Insights for the Build vs Buy Debate in Invoicing API
• Bosnia and Herzegovina Implements VAT on Non-Resident Digital Service Providers