VAT OBLIGATIONS IN LITHUANIA
How is the tax period determined in Lithuania?
In principle, the tax period of a legal person is a calendar month and tax period of a natural person is a calendar half-year. Your company has therefore to report its VAT position by filing periodical VAT returns (Form FR0600) on a monthly basis (standard tax period). Bi-yearly reporting period can be opted for if your annual turnover of the preceding year does not exceed LTL 200.000 (+/- € 58.000).
The legal person can now ask to submit its VAT return on a quarterly basis if its turnover did not exceed EUR 300.000 during previous calendar year (valid as from 1 July 2019). However the tax period is calendar month if the taxpayer acquires goods/services from other EU Member States and is liable to the payment of the VAT.
When should periodical VAT return be filed?
Periodical VAT returns must be submitted by electronic means to Lithuanian VAT authorities before the 25th day of the month (25 of N+1) following the tax period.
The tax period shall be set by each Member State at one month, two months or three months. Member States may, however, set different tax periods provided those ones do not exceed one year. The VAT return shall be submitted by a deadline to be determined by Member States. That deadline may not be more than two months after the end of each tax period.
Is this requirement laid down in the country and what is the filing deadline?
Member State may require taxable persons to submit a return in respect to all transactions carried out in the preceding year. That return shall provide all the information necessary for any adjustments.
Are quarterly filings allowed by the country and what is the filing deadline?
The recapitulative Statement [ESL - VIES return] must be drawn up for each calendar month and submitted to local VAT authorities by the 25th of the month after the end of the reporting period [month]. Filing the statement on a quarterly basis is not possible.
The recapitulative statement shall be drawn up for each calendar month. However, Member States, in accordance with the conditions and limits which they may lay down, may allow taxable persons to submit the recapitulative statement on each calendar quarter where the total quarterly amount of intra-EU supplies of goods does not exceed either in respect of the quarter concerned or of any of the previous four quarters the sum of € 50.000 or its equivalent in national currency. The recapitulative statement shall be submitted within a period not exceeding one month.
What is the payment deadline?
The VAT due should be paid by filing deadline for the VAT return [before the 25th day of the month following the tax period].
Are interim payments required?
Any taxable person liable for the payment of the VAT must pay the net amount of the VAT when submitting the VAT return. Member States may, however, set a different date for payment of that amount. Member States may require interim payment to be made.
Is any VAT credit automatically carried forward or refunded?
A VAT credit is in principle automatically carried forward to the next period, unless a tax refund has been applied for.
Where, for a given tax period, the amount of deductions exceeds the amount of VAT due, the Member States may, in accordance with conditions which they shall determine, either make a refund or carry the excess forward to the following period. However, Member States may refuse to refund or carry forward if the amount of excess is insignificant.