A proposal for a Council Implementing Decision was published on 17 December 2020 that would authorize Lithuania to derogate from Article 287 of the VAT Directive by allowing Lithuania to exempt from VAT taxable persons whose annual turnover is no higher than EUR 55,000, which as an increase from Lithuania’s current exemption threshold of EUR 45,000. Subject to approval, the Decision would authorize Lithuania’s increased threshold from 1 January 2021 until 31 December 2024.
Source
Latest Posts in "European Union"
- Statement by President von der Leyen on the 20th package of sanctions against Russia
- Germany Urges Clear VAT and Transfer Pricing Classification Following Advocate General’s Opinion
- CJEU Allows Use of Statistical Values for Customs Valuation Only as Last Resort in Limited Cases
- Boehringer Ruling: Could £2.5bn VAT Reclaims Transform UK Pharma and Healthcare Forever?
- CJEU Rules Spain Cannot Restrict VAT Exemption for General Services to Independent Groups’ Members
