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  • Lithuania introduces VAT ledgers return

    VAT ledgers return introduced in Lithuania Lithuania was the last country to announce the requirement for all taxpayers to submit the VAT ledgers on a periodic basis. The new VAT ledgers return will need to provide transaction data on all issued and received invoices in Lithuania. It will apply from 1 October 2016 and, in principle, it requires electronic submission of your ledgers on a monthly basis. This requirement was already introduced in Czech Republic, Portugal, Hungary, Poland and Spain. Some...
    • By Marosa VAT
    • Published 27/07/2016 18:08
  • Lithuania extends reverse charge on construction services

    Reverse charge in Lithuania extended on construction services Lithuania extended the reverse charge mechanism on construction services to the supplies of goods with installation related to construction. Reverse charging VAT is an exception to the general VAT rules. Normally, it is the supplier who must account to the tax authorities for any VAT due on the supply. However, for certain goods and services, the obligation to account for the VAT element of the transaction is ´reversed´ and passed to the...
    • By Marosa VAT
    • Published 27/02/2016 18:07
  • Intrastat threshold changes in Lithuania

    Intrastat threshold in Lithuania decreases  The tax authorities have recently reduced the Intrastat threshold in Lithuania from €290,000 to €280,000 for Arrivals and from €215,000 to €200,000 for dispatches. This is an unusual change in the European Union as Member States normally increase their thresholds periodically (not decrease them). Lithuania had previously increase its threshold in 2015. What are Intrastat returns? Intrastat returns are statistical declarations with detailed information about the movement of goods from one Member State to another....
    • By Marosa VAT
    • Published 26/02/2016 15:34