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Doing Business Guide in the Baltics.
23.08.2016
R&D tax incentive
Lithuania levies flat 15% Corporate Income Tax. Since the 1st of January 2012small companies employing 10 employees or fewer, with an annual income of 300,000 EUR or less, have been subjected to 5%...
11.08.2016
Controlled Foreign Company rules in Lithuania are governed by the Law of Corporate Income Tax (20 December 2001 No. IX-675 Vilnius).
CFC regulation applies to the Lithuanian residents...
29.06.2016
A micro company (MB) is a legal form of business that was introduced in Lithuania in 2012.
MB is not required to have a minimum share capital, thus a micro company may be...
21.04.2016
A micro company (MB) is a legal form of business that was introduced in Lithuania in 2012.
MB is not required to have a minimum share capital, thus a micro company may be...
20.10.2015
Consolidated reporting is regulated by the Law on Consolidated Financial Statements of Enterprises. An entity having one or several subsidiary undertakings must draw up...
17.03.2015
Structure
Personal income tax is imposed on income acquired by a natural person, and it consists of:
income from employment;
business income (self-employed income);
gains from transfer of...
05.02.2015
Lithuania has included 58 countries to a list of low or no tax states. Transactions with these countries have special regulations and are subject to particular taxes applicable for individuals and...
26.01.2015
Few Corporate income tax amendments applicable for 2014 income is a good sign, indicating stability in Lithuanian corporate tax system. Besides that, most of law changes are business...
20.01.2015
Beginning of new financial year is a need to review legal requirements applicable to taxation of 2014 year’s income. There were several substantial amendments of Personal income tax law in...
20.11.2014
The law which determines the rules of payment of this tax is the Law on Real Estate Tax of the Republic of Lithuania (hereinafter – the Law). According to the provisions of the Law, Lithuanian and foreign natural persons as...
05.11.2014
The Law on Value Added Tax of the Republic of Lithuania is the main legal act regulating calculation, payment and declaration of value added tax. Currently in Lithuania value-added tax (VAT) rate is 21%. It shall be...
20.10.2014
On the January 1, 2006 a Law on Real Estate Tax has entered into force. The tax ranges from 0,3% to 3% and it is paid by real estates intended for certain purposes (administration, accommodation, trading, services, catering,...
02.10.2014
Relocating your business to another country or city is not only an excellent way to expand your company but it is also a great manner to reduce costs. The most common question is: which country (or city) to choose? While...
01.09.2014
The Law on Tax Administration, originally adopted in 13 April 2004, sets out the general taxation principles in Lithuania. This law sets basic concepts and regulations which must be observed in...
28.08.2014
European Union has not been a big player regarding taxation within member states. EU has considered that taxation is something the states should be complying with by themselves. The...
20.06.2014
Lithuanian government has submitted Tax administration law amendment which increase control powers granted to Lithuanian tax authority. After negotiations Parliament budget...
17.06.2014
On April 2014 Lithuanian president passed...
19.02.2014
Price fixing generally is understood as the restriction of the buyer's ability to determine its sale price. However not every commercial practice suggesting RRP or setting maximum...
26.11.2013
Lithuanian Seimas enacts amendments to Personal income tax (PIT) law.
Among the welcome improvements is lowering of PIT for most common transactions. Since 2014, dividends and royalties to management and...
07.06.2013
Lithuanian law on tax administration introduced a new requirement which is significant to investors doing Business in Lithuania. Article 421of law on tax...