An observation has been issued concerning provisions under Lithuania’s value added tax (VAT) law regarding credit notes and debit documents. The guidance describes as when:
- a condition to issue a credit VAT letter or a debit certificate arises; and
- An entity is to issue the document.
The observation requires what references are to be comprised on the documents and delivers samples.
However, the Lithuanian tax authorities issued also guidance on the application of VAT on land and real estate transactions, and rules concerning electronic requests for refunds of VAT paid in other EU Member States.
