Latvia V.A.T. and Other Taxes





Latvia VAT

  • The standard rate of VAT in Latvia is 21%%.
    There are reduced rates of 12% and 0%.
  • VAT is charged on assets and services provided in Latvia as well as on imports into Latvia.
  • Exports from Latvia are not subject to value added tax.
  • Income from financial services, such as insurance and banking services are exempt from VAT and legal advice, subject to the conditions in law, is exempt from VAT.
  • Any business with a turnover in excess of LVL 35,000 in the previous 12 months is obligated to register with the VAT authorities.
  • VAT at the rate of 12% is payable on medications, veterinary medications, special equipment for children and communications services.
  • The following operations are exempt from VAT, subject to the definitions:
    - Educational services.
    - Medical services.
    - Cultural services.
    - Lotteries and gambling.
    - Financial services provided by banks and insurance companies.
    - Gifts and donations for humanitarian aims.




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