Lithuania new VAT rates and compliance simplifications

Tue 5th Feb 2013

Lithuania has re-categorised a number of supplies across its range of reduced VAT rates (the standard VAT rate remains at 21%). These include:

  • 9% Rate for public transport, heating and water for residential use
  • 5% rate for supplies of disabled-assistance products and pharmaceutical goods

In addition, as part of the 2nd VAT Invoice Directive, the Lithuanian tax authorities have clarified the requirements for simplified invoices. These may be used transaction below the value of LTL 345. The disclosure requirements include:

  • Date and sequential invoice number
  • Name and VAT number of the supplier
  • Description of the goods or services
  • Net, VAT and gross amounts of the bill in LTL

The above changes came into effect on 1 January 2013.