- Lithuania’s State Tax Inspectorate is consulting on a draft amendment to the VAT Law.
- The amendment clarifies rounding rules for cash payments.
- It explains rounding rules for simultaneous purchases of goods and services in cash, starting May 1.
- It provides examples of rounding and calculations.
- It specifies when rounding is not applied, such as for amounts under 5 euros.
- Comments are due March 7.
Source: news.bloombergtax.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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