From 1 January 2025. New requirements will come into force in Latvia from 2025 to 2025, requiring all companies with business-togovernment (B2G) relationships to submit electronic invoices via the e-address system. These e-invoices must be submitted in XML format, ensuring a standardised and efficient data exchange process.
But the changes do not stop there - Latvia is already planning to extend this requirement to the B2B sector. From 2026, all Latvian businesses will have to start using e-invoices when providing services and goods to other businesses. This means that businesses operating in Latvia need to prepare for the transition to digital invoicing not only for the public sector but also for the private sector.
Who cares in Lithuania?
These requirements are important for Lithuanian companies that have branches in Latvia and provide goods or services to Latvian public and private institutions. Regardless of the size of the company, if it has a business relationship with the Latvian public sector, it will have to comply with these new rules, and if it has a business relationship with the B2B sector, then it will have to adapt to these changes by 2026.
These changes may also affect companies operating in Lithuania, if a trading partner requires an e-invoice, then they will have to adapt to the required format to meet the customer's expectations, by getting involved in the established invoice processing process they use. Therefore, when trading with foreign partners, it is advisable to have solutions in place in advance that allow for easy sending of e-invoices.
The requirements for the use of e-invoicing not only in neighbouring countries, but also in the EU, suggest that similar regulations may emerge in Lithuania. The European Commission's ViDA (VAT in Digital Age) Directive aims to modernise VAT management in the EU by promoting digital solutions such as B2B e-invoicing. The Directive foresees a gradual implementation for businesses to exchange e-invoices when conducting commercial transactions with EU countries. Lithuanian businesses with partners abroad should therefore be prepared to work with e-invoices.
How can Banqup help you adapt to change?
SMEs can use the Banqup platform to meet the new requirements. Banqup is integrated with the e-address system and the EU's e-accounting network Peppol, eliminating the need for additional integrations or separate filing in other systems. This allows easy and fast e-invoicing, saving time and resources.
How do I submit an e-invoice to a Latvian government agency via Banqup?
- Log in to your Banqup account.
- Create a customer card. Summarise all customer data. If the customer is in the e-address system, you will automatically be offered the "e-invoice" invoice delivery channel.
- Issue an e-invoice. Enter the required account details - date, number, amount and any other necessary information.
- Send the invoice directly to the customer's "e-address".
Tailored solutions for large companies
For large companies, Banqup offers tailor-made solutions that automate the entire invoicing and receipt process. If your company operates internationally, we can offer solutions that meet the requirements of different countries.
Want to know more? Contact and we'll help you prepare for sending and receiving electronic invoices.
