The draft law, titled “Amendments to the Accounting Law,” has been developed to provide a clear and specific legal framework for the preparation of invoices, formally referred to as justification documents, which are issued to the recipient of goods or services in exchange for payment. A key provision of the draft law is the requirement that all invoices must be issued as structured electronic invoices, aiming to standardize the format and streamline the invoicing process across all sectors.
The law stipulates that, starting from January 1, 2026, all companies will be obligated to issue these supporting documents—namely, invoices for the payment of goods or services—in the form of structured electronic invoices. This shift is intended to ensure consistency in how invoices are prepared and processed, facilitating a more transparent and efficient approach to accounting across different industries.
Moreover, the draft law introduces transitional provisions, effective from January 1, 2025, which require companies registered in Latvia to issue electronic invoices when dealing with budget institutions. This means that invoices issued to any public sector body in exchange for goods or services must conform to the structured electronic format ahead of the general implementation deadline.
