The Latvian 2017 budget has introduced a range of changes to the VAT, which take effect from the 1st of January 2017. Refunds claim concerning over-payment in the monthly basis reduced from EUR 11, 328.97 to EUR 5, 000. The option for bi-annual VAT returns for small businesses has been abolished. Monthly returns must be filed for the first six months for newly registered persons. A full input VAT deduction is not permitted for the supply of luxury cars and the related expenses.
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