The Latvian parliament has recently adopted amendments to the Value Added Tax Law.
It is expected that the amendments will be implemented on 1 June 2017.
These major amendments are expected to cover the following issues:
- Time frame of input VAT deduction,
- Deduction of input tax for bad debts to be adjusted,
- Terminology regarding construction services to be aligned with the relevant terminology under the Construction Law.
Further details will be published in due course.