Latvia

Registration in the VAT payer register becomes mandatory once a business's turnover reaches EUR 50,000; since 1 January 2025 this threshold is assessed against the calendar year rather than a rolling 12-month period, and its calculation now counts specified VAT-exempt transactions (e.g. real estate, financial and insurance services) alongside taxable ones.

Intra-Community supplies to VAT-registered persons in other member states and exports outside the EU carry an exemption with credit, as do supplies to diplomats and goods and services financed by foreign aid. Separately, education, financial, medical, and insurance services, nursery fees, the sale of used real estate (excluding building land), and sports-related fees are exempt.

Individuals can apply an exemption on gains from disposing of real estate in Latvia if the real estate was held for at least 60 months and was the seller's declared primary residence for at least 12 months before the sale, if it was held for at least 60 months as the taxpayer's sole real estate, or if the proceeds from selling the taxpayer's sole real estate were reinvested within 12 months into another real estate serving the same function.

Capital gains that a Latvian non-resident realizes from disposing of publicly traded crypto-assets between 1 January 2025 and 31 December 2027 are exempt from the additional 3% personal income tax that otherwise applies to an individual's total annual income above EUR 200,000.