- The Lithuanian government approved a bill to implement new EU VAT regulations.
- The changes aim to reduce administrative burden for small businesses and create a more favorable tax environment.
- Small businesses from other EU countries will not need to register as VAT payers in Lithuania if their annual turnover in the EU does not exceed 100,000 euros.
- Lithuanian small businesses will also have the opportunity to not register as VAT payers in other EU countries if their annual turnover in the EU does not exceed 100,000 euros.
Source: finmin.lrv.lt
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
