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.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.
LATEST NEWS
UPDATE: 2025 SME Special Scheme introduces pan-EU...
From 1 January 2025, significant changes to the EU’s SME scheme will extend VAT registration thresholds for EU companies trading in other EU member...
SEE MORE
LATEST NEWS
Chile - B2C Sellers and marketplaces to charge VAT in...
At the end of October, the Chilean Congress enacted the Tax Compliance Bill (Proyecto de Ley de Cumplimiento de las Obligaciones Tributarias), introducing...
SEE MORE
LATEST NEWS
Philippines implements VAT on e-services provided by...
In October 2024, President Ferdinand Marcos Jr. of the Philippines signed into law Senate No. 2528 , introducing VAT on digital services provided by foreign...
SEE MORE