Lithuanian Parliament legislates VAT exemption for press

  • 2012-06-26

VILNIUS – Today, LithuanianParliament has approved of the amendments to the Law on the Value Added Tax, legislating a 9 percent VAT for press: newspapers, magazines and other types of periodicals, reports ELTA/LETA.

A total of 99 MPs supported the amendments, while 6 MPs were against with 19 abstentions.

The amendments should come into force as of January 1 of 2013.

President Dalia Grybauskaite proposed a 9 percent VAT tax for press as early as in 2011.

Prime Minister Andrius Kubilius was sorry that the Seimas "surrendered to the epidemic of VAT reductions" and driven by this "epidemic" have cut revenues to the next year's state budget by over 100 millionlitas (29 millioneuros).

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