- Lithuania signed an agreement with the IMF for technical assistance to reduce VAT gap and shadow economy.
- The IMF will provide expert analysis and recommendations to improve tax collection and administration, focusing on VAT.
- The project includes analyzing VAT gap causes and developing recommendations, including automated information systems.
- The first interim report is expected in spring 2026, the second in autumn 2026.
- The goal is to use IMF recommendations for the 2027 budget to increase revenue, tax fairness, and public trust.
Source: finmin.lrv.lt
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.
Latest Posts in "Lithuania"
- Lithuania Raises Intrastat Arrival Threshold for 2026 to Ease Reporting Burden
- ECJ VAT C-544/24 (Nekilnojamojo turto valdymas) – Questions – VAT penalties and interest challenged as disproportionate and duplicative under EU law principles
- Lithuania’s Top Court Clarifies VAT Rules for Economic Activities and Independent Taxable Persons
- Expansion of Reduced 12% VAT Rate: Tourism, Cultural Services, Residential Heating, and Educational Publications
- Parliament Proposes Extension of Reduced VAT Rates for Heat Services and Publications
