Lithuania is supplying additional explanatory notes on the VAT law so as to given guidance to taxpayers involved in mixed activities and to give practical case details on derivatives. If taxpayers refer to notes provided by the tax authorities this could save compliance costs and penalties by increasing the accuracy of their VAT returns.
The rates of excise taxes have been increased on certain products including cigarettes, cigars, and cigarillos. These increases are effective from 1 March 2014. Duties on beer, wine, and other fermented beverages, plus on some intermediary products, have also increased with effect from 1 April 2014.
