Lithuania's government has reportedly approved a revised budget for 2021 that includes certain business support measures in response to the COVID-19 pandemic. One of the main measures is allowing taxpayers to utilize losses incurred in the 2020 tax period to offset taxable profit for the 2019 tax period, provided that the activity that caused the losses was also carried out in 2019. Other measures include a further extension of the deferral of the payment of taxes without incurring interest until 31 August 2021, and the application of a 9% reduced VAT rate for catering, culture, and sports sectors from July...