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
Lithuania, one of the three EU Baltic states is building out its 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
