Latvia Tax Agency Issues Methodological Material on Tax Implications for Assistance Regarding Events in Ukraine

The Latvian State Revenue Service March 10 issued updated methodological material on the tax implications for providing assistance regarding the events in Ukraine. Topics covered include: 1) VAT exemptions for donations, including a zero percent VAT rate for goods donated to recognized bodies within the EU for humanitarian aid or donations to Ukraine; 2) the specification of supporting documents required for a VAT exemption; 3) that with respect to uncollected receivables, if the amount of a specific debt also contains VAT, adjustments may be made to the calculated VAT; 4) tax relief for donors when donating in accordance with ...