LITHUANIA: COVID-19 VAT IMPLICATIONS

Apr 1, 2020 | COVID-19

LITHUANIA – Update 17th April

Taxpayers are to be relieved from late payment penalties and late payment interest (the procedures are still to be confirmed).

 

Source Credit – Accordance VAT

LITHUANIA – Update 16th April

VAT rate cut considered on catering services for food and non-alcohol drinks from 21% to 9%

 

Source Credit- Richard Asquith (Avalara)

LITHUANIA – Update 10th April

Lithuanian parliament to debate VAT cut proposal for catering services

Purpose is to lessen coronavirus outbreak’s impact on Lithuania’s restaurants, cafés, bars, and nightclubs
Mykolas Majauskas, a lawmaker for Lithuania’s opposition Homeland Union – Lithuanian Christian Democrats (TS-LKD) party, has submitted a draft amendment to the country’s value-added tax (VAT) law that proposes to decrease the levy on food and beverage catering services from 21 percent to 9 percent.

 

Source Credit – IEG agribusinessintelligence

LITHUANIA – Update 31st March

  • VAT returns are able to be deferred to up to a year, with no penalty charges for late payments 

Source Link here

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