VATLive > Blog > VAT > Lithuania publishes VAT compliance notes for Euro implementation - Avalara

Lithuania publishes VAT compliance notes for Euro implementation

  • VAT
  • 05 October 2014 | Richard Asquith

Lithuania publishes VAT compliance notes for Euro implementation

Lithuania is set to become the 19th member of the Euro currency union on 1 January 2015.

On September 23 2104, the tax office issued guidance notes on how to apply the new currency in terms of VAT compliance obligations. The new VAT registration threshold will still be based on the prior twelve months’ turnover, but the actually threshold will be expressed in Euro’s at the official conversion rate on 1 January 2015. This includes the obligation to produce VAT compliance invoices with prices and VAT calculations in Euro’s. Any invoices or filings produced in Litas will be rejected by the tax office.

Any VAT filings which span the transition period should still be reporting in the local Litas currency.


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 this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.