Lithuania: Parliament reviews VAT exemption threshold increase
The Lithuanian Parliament (Seimas) has accepted for consideration Bill No. XVP-111, which proposes amendments to the VAT Law concerning the small business regime. The bill, reviewed on January 31, seeks to adjust VAT registration and calculation thresholds.
Proposed changes
The bill includes the following measures:
- VAT registration exemption: Small businesses with an annual turnover of less than 60,000 euros (US$62,000) from the supply of goods and services in Lithuania would be exempt from VAT registration.
- Increased VAT calculation threshold: The threshold for calculating and paying VAT would be raised from 45,000 euros (US$46,519) to 60,000 euros.
If approved, the new rules would take effect on January 1, 2026.
Source: e-seimas.lrs.lt
