Lithuania to Amend Scope of Incidental Transactions Excluded in Determining if VAT Registration Threshold Met

Lithuania has published a Draft Law on amendments to Law No. IX-751 on Value Added Tax, which amends the types of transactions that are excluded when determining if the VAT registration threshold is met. The current VAT registration threshold in Lithuania is EUR 45,000. As drafted, the consideration from the supply of the following is excluded, provided these transactions are occasional (incidental), and the person does not normally engage in this type of activity:

• The supply of immovable p…