Jun 4, 2018 07:45:56 AM by Paulius K
Greetings, new here in UpWork, for account completion I don't know what is a VAT number of Lithuania. Please help.
-Paul
Jun 4, 2018 07:58:36 AM Edited Jun 4, 2018 08:00:02 AM by Nina K
Hi Paulius,
Value-added tax, or VAT, is a tax that EU member states assess on the supply of goods and services. If you do not have a VAT number, you can continue business as usual, but Upwork will add your country-specific VAT to our service fee, and remit this tax to your tax authorities.
You can find more detailed information about VAT here.
Jun 4, 2018 08:04:25 AM by Rene K
@Paulius K wrote:Greetings, new here in UpWork, for account completion I don't know what is a VAT number of Lithuania. Please help.
-Paul
Lithuania is a country, not a business. Lithuania has no VAT number. Businesses in the EU, corporations or individuals, have VAT numbers.
Jun 5, 2018 03:46:58 AM by Jeff R
I don't know the tax rates in Lithuania.. but in the UK, your business needs to register for VAT if you exceed a turnover of £85k within a 12 month period.
However, you can STILL register for a VAT number even if you don't exceed the 85k mark. But you will need to make sure you file your tax returns to prove you don't require to pay VAT.
Your best bet - speak to your local tax officer.