Supplies Of Goods Received By Lithuanian Businesses From EU Businesses (Lithuania)

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Commentary

28 Lithuania

General (Lithuania)

Lithuanian businesses that are not VAT registered but receive supplies of goods from EU suppliers may be required to register for VAT if the value of the goods received exceeds the relevant acquisitions threshold (see 28.1).

Whilst unregistered, the business should be charged VAT by its EU suppliers. Once the Lithuanian business is registered for VAT, the EU suppliers should stop charging VAT and the Lithuanian business should account for Lithuanian VAT on the value of the goods received. This VAT, known as 'acquisition VAT', is recoverable by the business

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