Lithuania Tax Agency Seeks Comments on Proposed Amendments to Commentary on VAT for Immovable Property Transactions

The Lithuanian State Tax Inspectorate Nov. 12 opened a consultation on draft amendments to the commentary for Article 32 of the VAT Law, on sales or other transfers of immovable property. The draft amendments would provide guidance on: 1) the circumstances when the sale or transfer of existing buildings, structures, or their parts, excluding new ones, is exempt from VAT; 2) the concepts of new building or structure and their parts; 3) the circumstances when the sale or transfer of land is exempt from VAT, except when the land is transferred with new buildings, structures, or their parts and is ...