All companies and economic operators registered as VAT payers regularly submit declarations to the State Revenue Service (VID).

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Who needs to file a VAT return

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• For legal entities registered in the register of VAT payers.
• For natural persons whose turnover exceeds the established threshold.
• Foreign companies providing services in Latvia.

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Deadlines for submitting the declaration

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The frequency depends on the turnover:

• Monthlyif the turnover exceeds €40,000 per year.
• Quarterlyif the turnover is less than €40,000.
• Once a year, in special cases (for example, for individual farmers).

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Deadline for submission, until on the 20th of the following month. For example, for March, the declaration must be submitted by April 20.

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Content of the VAT return

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• Total turnover of the company.
• Calculated and advance tax.
• Final amount for payment or refund.
• Information on exports and imports.

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How to file a declaration

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1. Prepare accounting data.
2. Fill out the form in the EDS system.
3. Sign with the e-signature of the manager or accountant.
4. Send VID by the specified date.

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Liability for delay

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• A fine for not submitting on time.
• Overdue money for unpaid tax.
• Blocking bank accounts in more severe cases.

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Practical recommendations

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• Use automated accounting programs.
• Follow VID notifications in the EDS system.
• Plan tax payments in advance.

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Filing a VAT return in Latvia is mandatory for all taxpayers. Timely reporting protects the company from punitive sanctions and improves its reputation in front of the VIDs.