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Fiscal Representative in Latvia

Fiscal Representative in Latvia

A fiscal representative in Latvia is necessary for companies from non-EU countries that want to establish their business here. Mainly, the tax representative in Latvia deals with VAT registration, but he/she also has other obligations that we invite you to discover in the following lines. Those who want to start a company in Latvia and need help regarding registration for paying taxes can contact our specialists with experience in formalities and procedures.

Who is obliged to appoint a fiscal representative in Latvia?

Companies from non-EU countries that will have activities in Latvia must have a fiscal representative. On the other hand, this obligation does not apply to companies from the states belonging to the European Union. But you can learn more about how to set up a company in Latvia and what the responsibilities of a fiscal representative are in this country if you contact one of our specialists.

Responsibilities of a tax representative in Latvia

For company formation in Latvia by investors coming from non-EU countries, there is an obligation to appoint a tax representative for VAT registration. This can be a natural person with experience in the field or a company to represent before the fiscal authorities in Latvia. Here are some of the responsibilities:

  • One must strictly comply with the registration formalities for VAT payment in Latvia.
  • He or she prepares the documents required by the authorities for VAT registration.
  • A tax representative in Latvia can handle the VAT payment on behalf of the company.
  • The Latvian tax agent is also the one in charge of VAT funds and returns.
  • Communication between the local tax authorities in Latvia and the company registered in this country can be managed by a tax representative.

These are some of the most important responsibilities of a fiscal representative in Latvia, necessary for non-EU companies established in this state. With the help of our specialists, one can open a company in Latvia and also appoint a tax representative.

Why is it necessary to appoint fiscal representatives in Latvia and what are the advantages?

As mentioned in this article, companies from non-EU countries must comply with the legislation and appoint a tax representative in Latvia. From an economic point of view, representative tax in Latvia is a good alternative, especially for business structures such as branches and subsidiaries, for example. On the other hand, such a specialist knows the legislation and is up to date with the changes made in terms of taxes and requirements. A fiscal representative can also collaborate with our accountants in Latvia if you decide to outsource these services when you set up a company. But you can find out more details in this regard if you contact our local specialists in Latvia.

Some information about VAT in Latvia

Below is information about the VAT rates in Latvia, mentioning that our fiscal representative can help business owners register for such tax:

  • 21% is the standard VAT rate in Latvia.
  • 12% is the reduced VAT rate imposed for medical equipment, medicine, baby products and food, tourist accommodation, timber products, etc.
  • 5% is the reduced VAT rate imposed for printed and electronic publications, exports of products outside the EU, supplies of goods from other EU countries, etc.

So, these are some of the aspects related to appointing a fiscal representative in Latvia. We help foreign entrepreneurs with company incorporation in Latvia and all aspects related to the payment of taxes in this country. Those interested can contact us online or by phone.