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114 members of the Seimas voted in favor of this amendment to the law, three abstained.
At present, 21% applies to online media in Lithuania. VAT. 5 percent rate applies to newspapers, magazines, and other printed periodicals.
The president of the Budget and Finance Commission of Seimas, Mykolas Majauskas, pointed out that he adopted a directive that establishes a VAT exemption not only for the traditional press but also for the electronic press. “Many EU countries have made such a decision not only because the press is moving from the traditional space to the electronic one, but also because such a solution would help the media during the difficult Covid-19, when it is losing revenue.” It is a very decision. important not only in terms of that, but also because we encourage the media to conduct in-depth investigations, to invest in investigation, investigative journalism, because this benefit would not apply to advertising requests, but to subscribed content, “he said. .
The reduced rate of VAT would not apply to technical, bibliographic and related databases, publications of an erotic or violent nature or that do not comply with professional ethics.
It is estimated that the adoption of these amendments will cost the budget around € 1 million per year. income in euros.
Mindaugas Puidokas, a member of the Mixed Seimas group, which registered an amendment providing a VAT relief for online media in the Seimas this April, said the goal is to help electronic media, which are suffering losses due to the crisis of the coronavirus due to the decrease in advertising orders.
“It is clear that the media, especially electronic media, is an important and necessary means of informing people, and in this context we need to strengthen the media,” said Puidok.
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