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Lithuania VAT
Lithuanian VAT rules are based on regulations drawn up by the EU, of which Lithuania was a founding member. The standard Lithuanian VAT rate is currently 21%. As a member state of the EU, Lithuania is obliged to implement the VAT Directives which provide guidance on VAT.
Lithuania VAT law
The Lithuanian VAT law has a specific code, named “PVM”. It is administered by the State Tax Inspectorate under the Ministry of Finance of the Republic of Lithuania.
Lithuanian VAT registration
It is possible to buy and sell goods without establishing a local company instead registering a foreign company as a VAT payer in Lithuania. There is no VAT threshold in Lithuania for the registration.
Common scenarios which require a Lithuanian VAT registration include:
- importing goods into Lithuania
- organising live events, conferences, etc, in Lithuania
- holding goods in a warehouse in Lithuania as stock for resale
- 'supply and install' services
- selling goods from Lithuania to other EU countries
- distance selling to private individuals, e.g. internet retailing.
Registering for Lithuanian VAT generally takes five to six business days, although this can vary.
Lithuanian VAT fiscal representative
EU companies are not required to appoint a full VAT fiscal representative to represent them to the Lithuanian tax authorities. However, non-EU companies do.
Lithuanian VAT compliance
There are detailed rules controlling the recording and processing of Lithuanian transactions. These include guidelines on:
- Lithuanian invoice requirements
- Credit notes and corrections.
Lithuanian VAT rates
The standard VAT rate in Lithuania is 21%. with reduced rates of 9% and 5%.
Lithuanian VAT returns
Companies with a Lithuanian VAT number must submit regular returns detailing all taxable supplies (sales) and inputs (costs).Returns are generally submitted monthly in Lithuania, and are due by the 25th day of the month following the reporting period.
Lithuanian Intrastat and EC sales lists
In addition to VAT returns in Lithuania, companies may be required to submit additional statistical information. The Lithuanian Intrastat return should be filed on the 10th business day of the month following the reporting period and the Lithuanian EC sales list should be filed on the 25th day of the month following the reporting period.
Lithuanian VAT refunds
If a foreign company isn’t providing taxable supplies in Lithuania but incurring Lithuanian VAT on local goods or services, then Lithuanian VAT may recovered through a VAT reclaim.
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