Greece
Ministry of Finance has announced that the reduced VAT rate of 13% on public transport, coffee supplies, takeaways, and deliveries of non-alcoholic drinks will now be permanent.
Initially introduced to mitigate high inflation, the VAT rate was reduced from 24% to 13%. This measure, previously set to expire, will now continue indefinitely to support consumers and businesses.
Latvia
Latvia’s Ministry of Finance is proposing to introduce a mandatory electronic invoicing regime for business to business (B2B) and business to government (B2G) transactions, from 1 January 2026. A public consultation on the draft legislation has been launched.
Currently, Latvian public and government institutions must issue and accept electronic invoices. If the new regime is accepted, all VAT-registered companies will be required to issue electronic invoices when selling to other businesses and government departments.
Latvia joins several other EU countries, including France, Germany, Belgium, Poland, Ireland, and Spain, in announcing plans to introduce e-invoicing.
Romania
Romania has announced plans to extend its electronic invoicing regime to business-to-consumer (B2C) transactions for both VAT-registered resident and non-resident businesses from 1 January 2025.
Effected businesses can voluntarily start to issue B2C invoices electronically from 1 July 2024 via the RO e-invoice system. As with B2B invoices, these e-invoices will be sent to the Romanian tax authorities for verification of the information and format. However, suppliers will still need to send the invoices directly to their customers.
The above news was kindly provided by Fiscal Solutions (UK), www.fiscalsolutions.co.uk; contact: [email protected].
