As of July 1, 2021, import VAT exemption for goods with a value under 22 EUR will be abolished. All consignments sent from third countries to Lithuania will be subject to Lithuanian import VAT. Due to these changes, sellers or buyers of the goods will be required to declare even the cheapest products by submitting electronic customs declarations and pay the import VAT at the Lithuanian border. These new regulations will affect many businesses and consumers, however, Lithuanian authorities are now ready for new rules to come into effect and prepared the measures to simplify import procedures as much as possible.
Contribution by 1stopvat.com (read more about it on their website)
Latest Posts in "Lithuania"
- ECJ C-472/24 (Žaidimų valiuta) – AG Opinion – VAT Treatment of In-Game Gold Transactions
- Lithuanian Tax Authority Updates VAT Law Commentary on EU Member Countries and Transaction Territories
- Lithuanian VAT Law Updates: Registration, Payment, and Invoicing Requirements for Individuals Effective May 1
- eInvoicing in Lithuania
- Court Upholds VAT Deduction Rights for Fixed Asset Reconstruction in Landmark Ruling