Lithuania’s State Tax Inspectorate (VMI) has updated its guidance/commentary on Article 28 (Financial services) of the Law on VAT, clarifying how the VAT exemption for financial services should be applied in practice, particularly ahead of the 1 January 2026 legislative changes affecting the framework for exempt financial services.
Key clarifications include:
- New “technical/administrative services” rule (effective 1 January 2026): VMI highlights the addition of Article 28(9) under which pure…