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VAT laws ammended 9 July 2012

In June Seimas adopted amendments to the Law on the Value Added Tax which allows a reduced 9% VAT rate for press, public transport services, and technical assistance for the disabled.

A total of 99 MPs voted in favour of the draft, with 6 votes against and 19 abstentions.
The reduced 9% VAT rate will be applied to newspapers, magazines and other periodicals, with the exception of publications with erotic and (or) violent content and those that fail to meet professional ethical standards.

Publications where paid print ads account for over four fifths of the total publication space will also not be eligible for the rebate.

The VAT reduction will apply to passenger transport services on regular routes established by the Ministry of Transport, authorised institutions, municipalities, as well as passenger luggage transportation.

The reduced 9% rate will also apply to technical assistance for the disabled and their repair.
“I cannot accept this decision of the Seimas, as it cuts budget revenues by over LTL100 million at a time when we are heading for the approval of the European fiscal pact at the Parliament,” said Prime Minister Kubilius, adding that he would appeal to President Dalia Grybauskaitė requesting a presidential veto for the amendments.

If the President refuses to veto the Law, the amendments will come into effect early next year.

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