Posts tagged as VAT

Tax in Latvia now payable on all goods ordered from third countries

Thursday, July 1, 2021

From Thursday, July 1, all goods purchased by people in online stores and received in consignments from countries outside the European Union will have to fill in a declaration and pay value added tax. The rules come into force across the whole EU and will have most impact on people making purchases from online shops in third countries such as China and the United Kingdom. Most of the items which…

Tax take rises nearly 15 percent in April 2021 compared with previous year

Friday, June 11, 2021

Tax take for April stood at €670.8, a 14.9 percent rise on year, the Tax and Customs Board (MTA) says, with growth mainly fueled by the low starting point, given that April 2020 was the first full month to follow the arrival of the coronavirus pandemic. VAT receipts January to April 2021 came to €804 million, 19 percent more than in the same period in 2020, though even 5.9 percent…

Latvian President asks to reduce VAT for printed media and books

Tuesday, February 2, 2021

The President of Latvia Egils Levits has sent a letter to the government encouraging the application of reduced value added tax (VAT) rate of 5% to printed press and Latvian literature, according to a statement by the Chancery February 2. The VAT rate is currently set at 12% for literature, textbooks, newspapers, magazines and other periodicals. The President of Latvia calls on the Cabinet, in cooperation with representatives of the publishing industry,…

Lithuania closes tax exemption for low-value shipments from China

Thursday, November 5, 2020

The Lithuanian parliament voted to get rid of a VAT exemption for low-value shipments from outside the EU. At the moment, mail shipments valued under 22 euros are exempt from the 21-percent value-added tax. Seventy-six MPs voted in favour of the amendment on Thursday, with no votes against or abstentions. The exemption will come to an end next July. Proponents of the change argued that people and retailers were cheating…

All mail shipments from third countries will be subject to VAT

Monday, August 31, 2020

As from July next year, for all consignments ordered from third countries, value added tax (VAT) will be paid, Latvian Post (LP) representatives told Latvian Radio August 28. At present, for consignments ordered from third countries, value added tax (VAT) should be paid if the value of the goods exceeds EUR 22. But from July next year, VAT will have to be paid, starting at the first cent. The new VAT…

Ministers in a muddle over reduced VAT idea

Thursday, May 14, 2020

The working group of the Minister of Finance Jānis Reirs (New Unity) does not support the introduction of a reduced value added tax (VAT) rate of 5 percent in the hospitality sector, Minister of Economics Janis Vitenbergs (KPV LV, pictured) said May 13. He noted that the Economy Ministry will consider new proposals to support the tourism industry in the post-crisis period. Meanwhile, the Finance Ministry told LETA that it has not…