Value Added Tax

The Lithuanian District Heating Association has said consumers paid more for heating this winter despite that heat consumption was lower than in the previous season.

Lithuanian business associations have proposed increasing the value added tax (VAT) rate by 1% and introducing a nationwide tax on residential property or real estate. The funds raised by the additional taxes should be used exclusively to finance defence, their joint letter to the Government reads.

Prime Minister Gintautas Paluckas has confirmed that the Government is considering a raise of the reduced rate value added tax (VAT) from 9% to 12%.

The European Commission has initiated infringement procedures against Lithuania and 7 other European Union Member States for failing to timely transpose the directive on the value added tax (VAT) scheme for small enterprises, business news website Verslo žinios (vz.lt) reported.

More than 100 representatives of Lithuanian hotel and restaurants have rallied in Vilnius to call for bringing back the value added tax (VAT) relief on catering services as they join a campaign held in all the Baltic States on Thursday.

Catering sector companies of the Baltic States plan to hold a strike at the end of October due to what they believe to be excessive value added tax (VAT). Minister of Finance of Lithuania Gintarė Skaistė however does not think that reduced rate VAT for cafés and restaurants would be the right soluti...

Raising corporate tax for large businesses could be a solution to finance defence needs, says Social Democratic Party leader Vilija Blinkevičiūtė, rejecting proposals to increase the value added tax (VAT) rate as harmful to low-income earners.

Lithuanian will apply a reduced VAT rate of 5 percent on electronic media – newspapers, magazines and other periodicals – from January 2021, a move that will cost the state budget around a million euros in lost revenue yearly.

The value added tax will remain 21 percent in Lithuania after the country's parliament on Thursday rejected the liberals' initiative to cut it to 18 percent from 2020, a level that was before the 2009 crisis.

Lithuania's government discussed at a closed meeting on Monday the draft tax reform prepared by the Finance Ministry, sources told BNS.

Lithuanian President Dalia Grybauskaitė has criticized the government's suggestions to cut VAT rates on some foodstuffs in order to rein in prices. The measures will benefit retailers, not consumers, the president believes.

With about six months left to the next general election, cutting taxes is all the rage in the Lithuanian parliament. MPs have submitted several bills suggesting cutting value-added tax (VAT). Some proposals have been discussed more extensively than others, but there is still no clear agreement on a ...

Lowering the value-added tax (VAT) rate for all goods and services would be preferable to exemptions on select products, like food, Lithuania's Finance Minister Rimantas Šadžius.

The Lithuanian government could collect more revenue from the value-added tax (VAT) by lowering the rate and thus cutting the black market, according to a SEB Bank economist.

Lithuania's ruling coalition has postponed a decision on cutting value-added tax (VAT) on basic food products until after the Finance Ministry estimates the measure's impact of public finances.