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Lithuania cuts food VAT

  • Aug 28, 2018 | Richard Asquith

Lithuania cuts food VAT

Lithuania has proposed reclassificying foodstuffs from the 9% reduced VAT rate to 5%. The standard VAT rate in the Baltic state is 21%.

The measure must first be approved by Parliament, but, given heavy inflation in the retail sector, is likely to pass.

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which won International Tax Review's 2020 Tax Technology Firm of the Year. Richard trained as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.