Latvia Tax Agency Issues Updated Methodological Material on VAT Rules for E-Commerce Transactions

The Latvian State Revenue Service Jan. 2 issued updated methodological material on VAT rules for e-commerce transactions. Topics covered include: 1) applying VAT on distance selling within the EU and from third countries, including the union regime, non-union regime, and import one-stop shop (IOSS) for goods up to 150 euros (US$154); 2) the requirement for VAT payers to keep detailed records for 10 years and submit VAT returns quarterly or monthly; 3) the responsibility of e-commerce platforms for VAT facilitation; 4) the 10,000 euros (US$10,285) VAT threshold, effective from July 1, 2021, for determining the place of supply, above which ...