Do you need to invoice businesses in Lithuania?
If you answered yes, you may need electronic invoice processing.
Transalis eInvoice™ is a trusted provider of digital invoice processing with companies in Lithuania
More and more countries, including Lithuania, are looking for new ways to streamline their processes, eliminate tax avoidance and collect more VAT. Already across the EU, government and public sector organisations are required to use B2G eInvoice processing, and B2B suppliers are being encouraged do the same.
An eInvoice solution from Transalis will streamline your invoice processing with trading partners in Lithuania.
- Reduce time spent on administrative tasks
- Improve accuracy and minimise disputes
- Remain compliant with complex cross-border regulatory and tax requirements
- Automate invoice validation
- Speed up the entire billing process
eInvoicing in Lithuania
eInvoicing with Transalis eInvoicing in Lithuania
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If you have any questions just get in touch. Our team of expert consultants are on hand to help with anything you need.
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Lithuania eInvoicing regulations
June 20 2024
NBFC adds a phased transition timeline to the new SABIS portal NBFC announced a two-month phased transition period for the migration to the SABIS portal between 1 July and 31 August 2024, changing the previous statement of no transition. Additionally, all invoices based on verbal contracts, regardless of their amount, should be submitted to the SABIS portal from 1 January 2025.
VAT Trends Report
An eInvoice must be accepted provided its Integrity and Authenticity (I&A) can be guaranteed. This can be by Advanced Electronic Signatures, or business controls that ensure an audit trail linking an invoice and a supply and “proper EDI” with an interchange agreement based on the European Commission 1994 Recommendation.
In Europe, the VAT gap amounts to approximately EUR 140 billion every year. This represents a loss of 11% of the expected VAT revenue in the block. For several years, the EU has been gradually introducing new rules, including the mandatory use of B2G eInvoicing, to ensure that VAT on services is more accurately accrued.
Transalis is part of EURINV19, one of just 12 EDI solutions providers across Europe to pass a rigorous new electronic invoicing standard.
Source: VAT Trends Report: Sovos 12th Edition 2021