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VAT advance payment’s limit increased and benefits in kind are free of guarantee fund tax in Lithuania
 
  • The government approved the Finance Ministry's proposal to increase the limit from which businesses must pay the advance VAT payments (from 100 thousand litas till 10 million litas). The amendmend came into force from the 1st of May.
  • According to the Law on the Guarantee Fund, companies have to pay 0.1% contributions from gross salary. In May 2010 State Tax Inspectorate explained that benefits in kind are not subject for guarantee fund tax, because these incomes are not treated as salary according Labour Law.
In English News VAT advance payment’s limit increased and ben