Annual threshold for intra-community goods movements reporting hiked Lithuania has announced the increase in its annual threshold for the reporting of Intrastat. This includes reporting statistical values. The new thresholds are: Dispatches: rising from €200,000 to €300,000 Arrivals: rising from €280,000 to €500,000 The new
Tender launched for electronic invoicing service launch based on EU standard on eInvoicing (EN 16931) Lithuania has started on the long road to introduce electronic invoicing for taxpayers. This will be based on the EU standard on eInvoicing (EN 16931). The Ministry for the Economy has started
Ongoing struggles in sector following COVID lockdowns prompt shift from standard to reduced VAT rate The Lithuanian parliament is considering a proposal to reclassify a range of sport and culture activities from the standard rate of VAT at 21% to the reduced rate of 9%.
Inflation hits 22.5% in September prompts agreement to lower taxes on domestic heating to 5% The Lithuanian Parliament has agreed to reduce the VAT rate on domestic heating from 21% to 5%. This would apply to hearing energy and hot water supplies. It will apply
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
Inflation hits 18.5% in May 2022 prompts August VAT rate cut proposal The Lithuanian Seimas Parliament is reviewing legislation to temporary cut the VAT rate on foods from 5% to 0%. This would come into effect from 1 August 2022. Following the Russian invasion of