- Lithuanian State Tax Inspectorate opened consultation on VAT Law amendment for real estate rentals
- VAT relief applies to rental of properties registered as residential buildings
- Defines classification of structures and what constitutes a residential building
- Long-term rentals over two months are VAT exempt
- Short-term rentals under two months are subject to standard VAT rate
- Long-term agreements terminated within two months treated as short-term
- Short-term agreements extended beyond two months treated as long-term
- Comments due by April 28
Source: news.bloombergtax.com
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.
