The Lithuanian parliament, Seimas, is to consider a bill on rounding cash payments, a step towards phasing out one and two cent coins.
The plan is to start rounding off cash payments from May 2024, giving enough time for retailers to upgrade cash registers.
Under the proposal, the final sum of a purchase will be rounded to the nearest multiple of 5 cents: an amount ending in 1 or 2 cents, 6 or 7 cents would be rounded down, while sums ending in 3 and 4 cents or 8 and 9 cents would be rounded up.
This will only apply to cash payments, but will not concern card payments, bank transfers, currency exchange, cash transfers, cash deposits and cash withdrawals.
Six EU countries have introduced similar rules in order to move away from one and two cent coins.
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