Lithuania i.MAS (SAF-T)

Lithuania is completing its roll out of Standard Audit File for Tax (SAF-T) which it started in 2016. It will complete for most companies at the by the start of 2020.

The Lithuanian Customs Office of the State Tax Inspectorate now has the right to oblige businesses to produce historic SAF-T accounting submissions on demand. There is no requirement at present to produce SAF-T on a periodic basis.

There are three structures within Lithuanian SAF-T

  1. i.SAF invoice data This XML electronic register of sales and purchase invoices is submitted monthly with the VAT return by the 20th of the month end following the reporting period. All VAT registered businesses must complete the submission.
  2. i.VAZ transport / consignment document XML data Supporting documents for domestic movements of goods by road
  3. i.SAF-T accounting transaction reporting for resident businesses only. This is not be mandatory; instead only on request.

Lithuanian SAF-T rollout period

  • Jan 2017 for businesses with a revenue above €8million per annum
  • Jan 2018 for businesses with a revenue above €750 thousand per annum
  • Jan 2019 for businesses with a revenue above €45 thousand per annum
  • Jan 2020 for all businesses

About SAF-T

SAF-T is an electronic schema developed for the efficient exchange of information between the tax authorities and businesses. It was created by the Organization for Economic Cooperation and Development in 2005 as a standard to be used globally to ensure consistency from country-to-country to facilitate exchange of data between tax authorities. The file requirements are expressed using XML, although the EU does not specify the exact file format.

There are generally five reporting requirements:

  1. General ledger and supporting journals
  2. Accounts payable, including supplier master data and invoices
  3. Accounts Receivable, with customer master data and invoices
  4. Warehouse inventories, and master data
  5. Fixed assets ledger, including amortisation

Need help with your Lithuanian VAT compliance?

Researching Lithuanian VAT legislation is the first step to understanding your VAT compliance needs. Avalara has a range of solutions that can help your business depending on where and how you trade.