The Lithuanian parliament (Seimas) is considering a draft law amending the Value Added Tax Law. Among other things, the draft law provides for an increase in the threshold for VAT registration by small businesses from EUR 45,000 to EUR 55,000. The draft law also provides for the implementation of the EU small business scheme for cross-border supplies. This includes that a taxable person established in another EU Member State can apply the small business scheme (VAT exemption) in Lithuania if…