• Service: Tax, Global Indirect Tax, Global Compliance Management Services
  • Type: Regulatory update
  • Date: 10/7/2013

Lithuania - Guidance for VAT on credit, debit documents 

October 7: A commentary concerning provisions under Lithuania’s value added tax (VAT) law concerns credit and debit documents explains: (1) when an obligation to issue a credit VAT note or a debit document arises; and (2) which entity is to issue the document.

The commentary specifies what references are to be included on the documents and provides examples.

The Lithuanian tax authorities also issued guidance on the application of VAT on land and real estate transactions, and rules concerning electronic requests for refunds of VAT paid in other EU Member States.

Read a September 2013 report prepared by the KPMG member firm in Lithuania: Tax, legal and accounting newsletter (September 2013)

The KPMG report includes brief descriptions of these developments:

  • Payments by small partnerships to partners – B class income
  • Levy of excise tax on electric energy supplies
  • Simplified payment of social insurance contributions

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