- The Lithuanian parliament is considering an alternative draft bill to increase the VAT registration exemption threshold from EUR 45,000 to EUR 60,000 in 2026, with further increases to EUR 70,000 in 2027 and EUR 85,000 in 2028 and beyond.
- Similar to the initial draft, the new provisions stipulate that taxable persons must register for VAT if their supplies exceed the threshold during the year.
- Upon exceeding the threshold, VAT becomes due from the month it is exceeded, and it must be calculated on all goods and services supplied that contributed to exceeding the threshold.
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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.
