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Lithuania Looking to Preserve Lower VAT Threshold

by Ulrika Lomas, Tax-News.com, Brussels

04 August 2017


The European Commission has proposed that the EU Council should extend the current derogation for Lithuania that allows the country to set its value-added tax registration threshold at EUR45,000 (USD53,300).

A proposal for a Council Implementing Decision has been sent to the Council to authorize Lithuania to apply a measure derogating from Article 287 of the 2006 EU VAT Directive, which had required that the country's registration threshold should be no higher than EUR29,000 upon joining the bloc.

Currently, the derogation allowing Lithuania to offer a EUR45,000 threshold for tax-registered persons is to expire on December 31, 2017. The proposal would extend this to December 31, 2020.

TAGS: compliance | tax | small business | business | European Commission | tax compliance | legislation | Lithuania | Europe

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