Lithuania proposes 2% VAT rise to 23% |
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1 December 2011 Following disappointing growth in the Lithuanian VAT is currently 21%. It last raised its VAT rate at the end of 2009. GDP growth for 2012 is now forecast to only reach 2.5%, compared to a target of almost 5% forecast earlier this year. This has come about as the vital European Union market has struggled, and exports flagged. This has prompted the Finance Ministry to suggest a 2% VAT rise. If you would like to receive our FREE VAT news updates, please click here. |
