Lithuania’s parliament (Seimas) has recently proposed an alternative draft bill for the phased increase in the value-added tax (VAT) registration threshold, which would take effect on 23 February 2025. The current threshold of EUR 45,000 would

Lithuania's tax authority expanded the range of corporate gifts eligible for tax deductions as representational expenses, effective 17 February 2025. The updated regulations now include items such as sweets, edible gift sets, and alcoholic

The Lithuanian government approved amendments to the VAT Law to incorporate provisions of EU Directive 2022/542. Lithuanian Prime Minister Gintautas Paluckas made this announcement on 12 February 2025. Earlier, the Ministry of Finance has made

The Government of Lithuania approved the draft Law prepared by the Ministry of Finance on 5 February 2025, which proposes to transpose the new provisions of the European Union (EU) legislation adopted in the field of value added tax (VAT) that are

Prime Minister Gintautas Paluckas announced that the Lithuanian Parliament will consider introducing a reduced VAT rate for food products and public catering establishments in the spring session. Though he has not pledged his support, he recognized

Lithuania's State Tax Inspectorate has announced changes to tax rates that will take effect on 1 January 2025. The corporate income tax rate will increase to 16%. Small companies, defined as those with fewer than 10 employees and annual income not