As of July 1, outsourced accounting (bookkeeping) services may be provided by licensed accountants only. Licenses are issued by the State Revenue Service (SRS). The licensing system will provide quality service and safety guarantees thereby reducing shadow economy risks and increasing the international credibility of the Latvian economy.
SRS invites all entrepreneurs who already use or plan to use outsourced accounting services to make sure that the accountant or accounting company is licensed. This information can be found in the public database section of the SRS homepage www.vid.gov.lv - "Register of licensed outsourcing accountants".
How to get an accountant’s license?
To receive a license, you must provide proof of professional qualifications, experience, an Internal Control System (ICS), and civil liability insurance and pay a state fee.
The license can be obtained remotely through the Electronic Declaration System (EDS) by filling out the "Application for receiving an outsourced accountant's license".