Unofficial translation
VAT registration threshold
Council Directive 2006/112/EC of 28 November 2006 on value added tax on the common system of value added tax (the “VAT Directive”) gave Member States the possibility for small businesses to businesses to apply a special scheme exempting from VAT taxable persons whose annual turnover does not exceed a certain threshold. Although under Article 287(11) of the VAT Directive Lithuania is required to set an annual turnover threshold of €29,000, it has until 31 December 2020. Lithuania had allowed to apply a threshold of EUR 45 000. The corresponding provisions have also been transposed into the Lithuanian VAT Law on Value Added Tax (hereinafter referred to as the VAT Law).
22 January 2021 Council Implementing Decision (EU) 2021/86, by which Lithuania authorising the Republic of Lithuania to apply a special measure derogating from Council Directive 2006/112/EC on the common system of value added tax (Article 287), granted to Lithuania to exempt from VAT taxable persons whose annual turnover does not exceed the threshold of EUR 55 000.
Source lrv.it (in Luthanian only)
