28 December 2022
From 1 January 2023, the Lithuanian government confirmed it will:
- Cut the VAT rate applied to electronic books and publications from 21% to 9%
- Extend the VAT rate cut to 9% from 21% on hospitality, sporting, and cultural services until 31 December 2023.
- Extend the VAT rate cut on accommodation from 21% to 9% indefinitely.
- Cut the VAT rate applied to food used for special medicinal purposes to 5%. This includes food that is specifically processed or formulated for the dietary management of patients to be used under medical supervision.
It's hoped that these cuts will help to fight inflation, which is at a record high in the country.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
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