The iPayTax Account works under Latvia’s "investment account" (ieguldījumu konts) tax-deferral regime (Personal Income Tax Law, Section 11.⁹). Nectaro does not withhold tax on income earned in this account — instead, you must declare and pay the tax yourself, and only on the amount by which the funds you withdraw from your iPayTax Account exceed your deposits into it. For this tax deferral to apply, Latvian tax residents must register their iPayTax Account as an investment account with the State Revenue Service (VID), using EDS (the Electronic Declaration System).
Source: VID methodological material "Ienākums no ieguldījumu konta" (updated 27.12.2024).
Step 1 - Find your iPayTax account ID
- Log in to your Nectaro account.
- Go to My Profile → Investor Info.
- Your iPayTax account ID is shown there. Copy it — you will need it for the EDS submission.
Step 2 - Log in to EDS
- Go to eds.vid.gov.lv and log in the same way you normally access your VID account (using bank authentication, eParaksts, or ID card solutions).
Step 3 - Find the submission form
- In EDS, go to Documents → Informative declarations and reports.
- Select "Information on Investment Accounts".
Step 4 - Fill in the account details
| Field in EDS | What to enter |
| Account number | Your iPayTax account ID (from My Profile → Investor Info in your Nectaro account) |
| Service provider name, registration number, country | Nectaro SIA - 40203016025 - Latvia |
| SWIFT/BIC | Not applicable |
| Account currency | EUR |
| Account opening date | The date your iPayTax Account was opened (shown in My Profile / your account statement) |
Step 5 - Submit before the deadline
Submit your registration by 31 December of the year in which you opened your iPayTax Account, so that the tax-deferral regime applies for that tax year.
Step 6 - Keep the confirmation
Keep your EDS submission confirmation for your own records.
Important
- This is general information, not tax advice. If your situation is more complex — for example, you have multiple investment accounts, your account number changes, or you want to end your iPayTax Account’s investment-account status — contact VID directly or a tax advisor.
- Registering with VID does not change how your iPayTax Account works with Nectaro — it is a separate, parallel step you take with the tax authority.
- Questions about the registration itself are best directed to VID; questions about your Nectaro account or iPayTax account ID can be sent to [email protected].