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On Tuesday, after deliberation, the Seimas unanimously approved such modifications to the Value Added Tax Law. The changes are expected to take effect in January 2021, but the European Commission has proposed to postpone their implementation for half a year, until July 1, 2021.
Currently, shipments of up to € 22 from third countries are not subject to VAT.
According to Mykolas Majauskas, a member of the Budget and Finance Committee, the amendments will obstruct the lands that allowed the population to abuse during the coronavirus crisis and created unequal competitive conditions for European Union (EU) companies, as there is no such benefit. for shipments within the EU.
Photo by Lukas Balandis / 15min / Mykolas Majauskas
“A large part of the population, especially during the pandemic, ordered many products from outside the European Union, often from China, and in those cases there is a certain benefit: if the value of the products does not exceed 22 euros, no there is a value added tax. Unfortunately, many people rushed to make use of this privilege, abusing it, indicating a significantly lower value than the merchandise actually requested, and thus avoiding the payment of value added tax “, prisoner M Majauskas at the Seimas.
Unfortunately, many people have been quick to take advantage of this privilege, abusing it, citing significantly less value.
The study by public policy analysis and consulting firm ESTEP showed that last year the Lithuanian business sector did not receive 142 million LTL due to e-commerce from third countries. 18 million euros in revenue. Low value shipments. This is about 1 percent. all the turnover of the Lithuanian retail trade.
The European Commission has found that around € 7 billion is not collected in Member State budgets due to tax breaks and misreporting. by year.
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