Latvia introduces mandatory B2B e-invoicing

The Latvian Ministry of Finance has recently announced a forward-thinking plan for the period of 2024 to 2027, with the key feature being the implementation of a compulsory e-Invoicing system for B2B interactions. This initiative is poised to significantly alter the landscape of B2B transactions in Latvia by requiring the use and exchange of electronic invoices in a structured format. The primary goals behind this move are to streamline the invoicing process and to introduce a digital framework that enhances both efficiency and transparency in business dealings.

With a firm commitment to digital transformation, the Latvian government has laid out an aggressive schedule to have the e-invoicing system fully up and running by December 30, 2025. This deadline highlights the government’s dedication to fast-tracking digital adoption within the realm of business transactions.