VATupdate

LITHUANIA

Lithuania

Lithuania is one of the 27 Member States of the European Union.

Basic VAcTs

Latest update 01.06.2024
Country ISO Code LT
EU Member State Yes
Local name Pridetines vertes mokestis (PVM)
VAT number format LT 123456789012 or LT 123456789
VAT Rates  
Standard VAT Rate 21%
Reduced VAT Rate 9%
Special Reduced VAT Rate

5%

VAT Compliance  
Standard VAT Return filing period Monthly
Standard VAT Return filing deadline 25th day of the month following the filing period

VAT Representation required for non-resident
businesses?

Yes, mandatory for non-EU businesses
Record retention period 10 years
Electronic invoicing Not mandatory for B2B transactions
Click HERE for more info
Real-time reporting n.a.
Special Rules  
General domestic reverse charge for domestic
supplies of goods by non-resident businesses?
Yes, domestic supplies of goods by non-resident
businesses to VAT registered B2B customers
Other domestic reverse charge mechanisms? Yes, e.g. (sub-)contracting work
Postponed Accounting on Import Yes, under conditions
VAT Grouping possible? No
VAT Refunds for non-EU businesses? Armenia, Canada, Iceland, Norway,
Switzerland and Turkey (with certain limitations)
Remarks  
Link to VAT Law HERE
Remarks * Postponed accounting on importation is possible under conditions

Below is an overview of the latest VAT news for this country.

Note: The above information is taken from various sources and is for information purposes only and is not intended to be advice. Although the author went to great lengths to make sure the information is accurate and useful, users should not act on the basis of any matter used or presented without considering appropriate professional advice.

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