Mandatory information is specified in Section 7 of the Law of the Republic of Latvia “On Accounting”. In accordance with this Section entries supported by source documents shall be made in accounting registers.
The invoice is a source document.
A source document is a document attesting the existence of an economic transaction of the undertaking and including at least the following details of a document and information regarding the economic transaction:
1) the name of the document author (firm name), but when the document author is a natural person – the given name and surname;
2) the registration number of the document author (if in accordance with the law the document author shall be registered), but when the document author is a natural person – personal identity number (if any has been granted to the person);
3) for an external source document – also the legal address (if in accordance with the law the document author shall be registered) or address (if in accordance with the law the document author shall not be registered), but when the document author is a natural person – also the address specified by the person or, if none has been specified, the declared place of residence;
4) the title of the document type;
5) the date of the document;
6) the document registration number;
7) the signature (except for the cases referred to in the law, when the source document does not contain the requisites “signature”);
8) for specific types of source documents – also other mandatory details of a document provided for by laws and regulations;
9) the participants of the economic transaction by specifying the name (firm name), registration number (if in accordance with the law a participant of the economic transaction shall be registered), legal address (if in accordance with the law a participant of the economic transaction shall be registered) or address (if in accordance with the law a participant of the economic transaction shall not be registered) of each participant of the economic transaction, but when a participant of the economic transaction is a natural person by specifying the given name and surname, personal identity number (if any has been granted to a person), address specified by a person, or, if none has been specified, the declared place of residence;
10) the description, basis and quantifiers (volumes, amounts) of the economic transaction, but in cases laid down in the laws and regulations – also other information regarding the economic transaction.
In the event that the invoice does not contain the mandatory information, such a document may not be recognized by the relevant tax authorities as a source document, which may have some negative consequences.
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