The Parliament adopted changes to the VAT law yesterday. According to the law, the reduced VAT rate of 5 per cent will apply to the categories including medical drugs;
books, mass media, entry to sports events and cinemas etc.
An 18 per cent VAT rate will be applied also to press publications, where advertising and commercial announcements make more than 50 per cent of contents.
VAT will not apply to leasing interest rates.
Source: Baltic Business News
