On 26 January 2024, the Latvian Ministry of Finance released the Shadow Economy Curtailment Plan (2024-2027) to thwart the shadow economy in the prioritized development of the economic sectors.
The four-year plan considers the mandatory introduction of Continuous Transaction Controls (CTC) model in the business sector by the end of 2025. The e-invoicing obligations will be implemented based on real-time reporting.
The technical solution for e-invoicing is still a work in progress. …