VAT Returns – Lithuania

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

RateTypeWhich goods or services
21%StandardAll other taxable goods and services
9%ReducedPassenger transport; Periodicals; Hotel accommodation under tourist legislation; Heating for residential property
5%ReducedBooks and e books; Certain pharmaceutical products; Medical goods; Assistance provided to the handicapped
0%ZeroInternational 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 150.000
Arrivals : EUR 250.000
VAT Free Shopping for Tourists : EUR 55

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