Lithuania
VAT Name :
Pridetines vertes mokestis (PVM)
VAT Number Format :
123456789, 123456789012
(9 or 12 characters)
VAT Information Offices :
Viliniaus apskrities valstybine mokesciu inspekcija, Ulonu g .2, 01509 Vilnius
RATES
| Rate | Type | Which goods or services |
|---|---|---|
| 21% | Standard | All other taxable goods and services |
| 9% | Reduced | Passenger transport; Periodicals; Hotel accommodation under tourist legislation; Heating for residential property |
| 5% | Reduced | Books and E-books; Certain pharmaceutical products; Medical goods; Assistance provided to the handicapped |
| 0% | Zero | International transport |
EXEMPTIONS
- Letting of immovable property, including sites for parking vehicles
- Renting of safe deposit boxes
- Letting and leasing of permanently installed equipment and machinery
- Letting of residential property (excluding short term letting)
- Letting of commercial property
- Financial services
- Supply of land
- Option to tax can apply in certain cases to leasing and letting of immovable property, financial services, supply of building and supply of land
THRESHOLDS
Registration Threshold : EUR 45.000
(below threshold registration can be on a voluntary basis)
Distance Selling Threshold : EUR 35.000
Intra-Community Acquisition Threshold : EUR 14.000
Dispatches : EUR 120.000 (simplified) or EUR 3 million (full)
Arrivals : EUR 250.000 (simplified) or EUR 6 million (full)
VAT Free Shopping for Tourists : EUR 55
Non-Resident : Non-resident businesses without a fixed establishment must register for VAT (nil threshold)
The above are basic reporting thresholds. Higher thresholds exist for statistical values reports and detailed returns.
PENALTIES
Late Filing : including misdeclaration, 0.03% per day of the VAT due
Other :
– Penalties range from 10%-50% for incorrect VAT reporting
– Fines of up to EUR 145 for late or incorrect filing of EC Sales Lists
– Fines may be imposed for late Intrastat filings
DEADLINES
Assessment Period : 5 years (extended to 8 years in case of fraud)
Standard Tax Period : Monthly
Quarter filing if annual turnover < EUR 300.000
EC Sales Lists filing – monthly, submitted by 25th day following reporting period
Intrastat – 10th working day after reporting period; electronic and paper format