Accounting, Payroll, Tax & Legal since 1989

Although initially, the Cabinet of Ministers decided that the procedure for the use of electronic devices and equipment  for tax and other payment registration and technical requirements for these devices and equipment will come into force on 1 July, 2015, recently published draft amendments by the Cabinet of Ministers intend to extend this period until 1 January, 2016.

Thus, the initiation to use hybrid cash registers and cash systems has been extended by six months. Requirements for cash registers and cash systems are differentiated depending on the total value of the goods or services provided at the point of sale. If the total turnover at the point of sale for the previous 12 months does not exceed 200 000 euros (more than 80% of all trading companies), one will be able to continue to use existing cash registers.

If the annual turnover exceeds 200 000 euros, one should use a hybrid cash register. If the turnover exceeds 1.5 million euros, one should use the cash system.

Contacts of Tax Advisory unit

If you have any questions or need more detailed information, please contact:

Ina Spridzāne (ina.spridzane@leinonen.lv, tel. 67358635) or Alla Bistrova  (alla.bistrova@leinonen.lv, tel. 67358607).

If you are interested in the news of tax, employment and other business-related legislation in Estonia and Lithuania, please visit Estonian news and Lithuanian news.