Latvia: New requirements for controlled transactions report
Deadline for submitting the report for the 2025 reporting year is December 31, 2026.
Beginning January 1, 2026, companies with total transactions exceeding €250,000 with related nonresident parties in the previous financial year must submit a controlled transactions report to the State Revenue Service (SRS). This requirement is part of broader amendments to the transfer pricing framework aimed at improving compliance and reducing administrative burdens.
The deadline for submitting the report for the 2025 reporting year is December 31, 2026.
Failure to submit the report within 30 days of an SRS request can result in penalties of up to 1% of the transaction value, capped at €100,000.
Read a January 2026 report prepared by the KPMG member firm in Latvia