Good for Business, Legislation, Lithuania, Markets and Companies, Taxation

International Internet Magazine. Baltic States news & analytics Sunday, 26.10.2014, 05:38

Lithuanian Seimas legislates VAT exemption for press

Danuta Pavilenene, BC, Vilnius, 26.06.2012.Print version
On Tuesday Lithuania's parliament has approved of the amendments to the Law on the Value Added Tax, legislating a 9% VAT for press: newspapers, magazines and other types of periodicals.

A total of 99 MPs supported the amendments, while 6 MPs were against with 19 abstentions, writes LETA/ELTA.

 

The amendments should come into force as of January 1 of 2013.

 

President Dalia Grybauskaite proposed a 9% VAT tax for press as early as in 2011.

 

Prime Minister Andrius Kubilius was sorry that the Seimas "surrendered to the epidemic of VAT reductions" and driven by this "epidemic" have cut revenues to the next year's state budget by over LTL 100 million (EUR 29 million).






Search site