Latvia to implement mandatory B2B e-invoicing
The Latvian Ministry of Finance has recently published a draft plan aimed at curbing the shadow economy for the period of 2024-2027, which includes the implementation of a mandatory e-invoicing system for all B2B transactions.
Full implementation of Latvia's electronic invoicing system is targeted for completion by December 30, 2025.
According to the draft plan, issuing and receiving structured e-invoices for B2B transactions will become mandatory. This initiative is designed to streamline the invoicing process and introduce a technical solution for the efficient circulation of e-invoices. Additionally, the system will feature the implementation of real-time reporting, aimed at enhancing the monitoring and compliance of VAT payment obligations.
Latvia is paving the way for mandatory B2B e-invoicing, with further details anticipated to be released in the coming months.