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 Ukraine, Lithuanian inflation has rocketed to 18.5% in May. This is second only to Estonia in Europe.
A number of other EU states cutting VAT on basics and fuel.
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