Lithuania Parliament Considers Bill to Increase VAT Registration, Calculation Exemption Thresholds

The Lithuanian Parliament (Seimas) Jan. 31 accepted for consideration Bill No. XVP-111, on amending the VAT Law to increase the VAT registration and calculation exemption threshold under the special small business regime. The bill includes measures to: 1) exempt from VAT registration small businesses with less than 60,000 euros (US$62,000) in annual turnover from supplying of goods and services in Lithuania; and 2) increase to 60,000 euros from 45,000 euros (US$46,519) the annual turnover threshold for calculating and paying VAT. The bill would enter into force Jan. 1, 2026. [Lithuania, Parliament, 01/31/25]

Reference:
View Bill No. XVP-111. View Explanatory ...