Lithuania Parliament Considers Draft Bill to Introduce Preferential VAT Rate on Essential Food Products

The Lithuanian Parliament (Seimas) Dec. 30 accepted for consideration Draft Bill No. XVP-90, to introduce a preferential VAT rate on essential food products. The draft bill includes a measure to introduce a preferential 9 percent VAT rate for essential food products, as well as catering and beverage services, excluding the sale of alcoholic beverages, with the list of eligible food products being established and supplemented by the Lithuanian government or an authorized institution. The law would enter into force July 1, 2025, with the Lithuanian government adopting the implementing legal acts of the law by April 30, 2025. [Lithuania, Parliament, ...