Latvia Tax Agency Issues Updated Methodological Material on VAT for Online Platform Transactions

The Latvian State Revenue Service July 1 issued updated methodological material on the application of VAT for online platform transactions. Topics covered include: 1) the duty of taxable persons to familiarize themselves with a platform’s terms, including for distance selling; 2) the standard VAT rate of 21 percent for domestic taxable transactions, the 5 percent and 12 percent reduced rates, and the zero percent rate; 3) the criteria for determining the place of transactions, and the importance of the type of goods and services supplied; 4) the availability of the One-Stop-Shop (OSS) for cross-border transactions with nontaxable persons or nonregistered ...