Inflation spike hits 22%; prompts bill to lower taxes on domestic heating to 5% The Lithuanian Parliament has returned to a February proposal to reduce the VAT rate on domestic heating from 21% to 5%. This would be imposed on natural gas and liquefied petroleum
Increase in resident VAT registration threshold for intra-community acquisitions of goods Lithuania is to increase the VAT registration threshold for resident businesses who are only acquiring goods from other member states under the reverse charge from €14,000 to €30,000. This will come into effect from
Ongoing COVID-19 disruption prompts VAT cut for restaurants, cafes and takeaways Lithuanian lawmakers are reviewing a Bill to reduce the VAT rate on food services from the standard rate of 21% to the reduced rate of 9%. This would affect the following outlets: Restaurants Cafes
Reporting threshold raised on movement of goods between Lithuania and other EU states Lithuania has increased its 2022 Intrastat reporting thresholds to the following levels: Arrivals €280,000k; and Dispatches €200,000 The Intrastat electronic reporting form requires data including: goods description; commodity code; delivery terms; mode of transport;
Lithuania, one of the three EU Baltic states is building out it’s i-MAS digital reporting requirement. This is enabling the digitisation of transactional reporting for more efficient audits and to help close the VAT Gap. The main reporting requirements under i-MAS include the following SAF-T
The Baltic state of Lithuania is to temporarily cut its Value Added Tax rate from 21% to 9% until 31 December 2022 on the following services: Restaurants and cafes (excluding alcoholic drinks) Catering services Sports events and activities Cultural attractions accommodation The tax cut will
Standard Audit File for Tax Lithuania rolled out its version of the OECD’s Standard Audit File for Tax (SAF-T) in 2017, and completed it’s current version, in 2019. It was phased in from 2018. Read about Lithuania’s i-MAS digital reporting regime which imposes a range
