|Update:||Compliance Alert - Reduced VAT rate of 0% applies to COVID-19 relevant supplies|
Earlier in January this year, the Parliament of Latvia, Saeima, has published new VAT rules and amendments to the existing tax laws.
One of these amendments entitles introducing a zero VAT rate to the supply of COVID-19 vaccine, registered in accordance with pharmaceutical regulations and in vitro tests recognised in the European Union.
The 0% rate also applies to the supply of services closely related to the aforementioned vaccine and tests.
This regulation will remain effective until 31 December 2022.