Lithuania raises Intrastat reporting threshold
The Lithuanian VAT authorities have confirmed that the annual turnover thresholds for Intrastat reporting are to rise from 1 January 2015. The new thresholds have also been restated in Euro’s for the first time following the adoption of the European currency from 1 January 2015.
For the reporting of intra-community arrivals, the threshold will be €290,000 per annum. For the reporting of intra-community dispatches, the threshold will be €215,000.
Intrastat intra-community reporting
Intrastat is the European Union reporting regime that enables countries to monitor the movements of goods and trade within the 28-member state free trade zone. It was introduced in 1993 with the launch of the single market. Companies moving goods across EU internal national borders must declare (generally monthly) the movements in filings submitted with their VAT returns. Most countries require separate filings for dispatches (goods sent to another EU country) and arrivals (goods received from another EU country. Countries set their own Intrastat reporting thresholds.
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