Lithuania Parliament Considers Bill to Extend Reduced VAT Rate to Newly Purchased Electric Vehicles

The Lithuanian Parliament (Seimas) Sept. 19 accepted for consideration a bill to extend the application of the 9 percent reduced VAT rate to new electric vehicle purchases up to a maximum amount of 35,000 euros (US$38,446). The standard 21 percent VAT rate applies to amounts exceeding 35,000 euros. The law would enter into force July 1, 2020. [Lithuania, Parliament, 09/19/19]

Reference:
View Bill No. XIIIP-3865. View Explanatory Memorandum.