A blog about local and foreign VAT matters, best practices, and tips from practioners.

The monthly reporting for quarterly VAT returns in Lithuania remains as the standard reporting period. However, following the amendments published last December 2018, taxpayers will be allowed to submit quarterly VAT returns if their annual turnover does not exceed €300,000.

SAF-T files are still required to be submitted on a monthly basis in all cases. Also, monthly reporting of VAT returns is required when carrying out certain transactions such as intra-community acquisitions.

What does this mean for you?

It is important to ensure that you are filing your VAT returns with the correct frequency. The conditions for monthly or quarterly filing change from one country to another. Some jurisdictions like Spain or Portugal take into account the annual turnover, other countries consider the annual VAT due, like France or Germany, and some other countries always required a standard monthly period, like the UK.

An application must be submitted by those taxpayers meeting the conditions to file quarterly VAT returns. This application can be filed from 8 days before the beginning of the quarter.