Council of the European Union 30 May 2011, 2011/335/EU: Council Implementing Decision of 30 May 2011 authorising the Republic of Lithuania to apply a measure derogating from Article 287 of Directive 2006/112/EC on the common system of value added tax

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This Council Implementing Decision authorizes Lithuania to exempt businesses with annual turnover up to €45,000 from VAT obligations, derogating from Article 287 of Directive 2006/112/EC. The measure aims to simplify VAT procedures for small enterprises, aligning with the EU's proposal to allow higher exemption thresholds. The decision is effective from January 1, 2012, until a new Directive on turnover ceilings is enacted or December 31, 2014, whichever comes first.AI