Essential information regarding tax arrears in Lithuania
We would like to remind you that on 16 June 2020 the
quarantine in Lithuania was terminated, however, the extreme situation regime
shall continue. Due to changes in the regime, two governmental institutions have
decided to apply different deadlines for fulfilling tax obligations of companies
included in the list of companies that have been negatively affected by
COVID-19. Below you can find information regarding the different deadlines set
up by the governmental institutions:
· Deferred tax obligations, which are administrated by the State Social Insurance Fund Board should be paid within 2 months after the end of quarantine, i.e. until 17 August 2020. Companies, which will not have the ability to pay tax arrears would be able to conclude an interest-free tax loan agreement within the above-mentioned period of time.
· Deferred tax obligations, which are administrated by State Tax Inspectorate should be paid within 2 months after the end of extreme situation. Companies, which will not have the ability to pay tax arrears, would be able to conclude an interest-free tax loan agreement within the above-mentioned period of time.
Therefore, companies that are included in the list of negatively affected by COVID-19 business should ensure that tax arrears administrated by State Social Insurance Fund Board are paid until 17 August 2020. If the company would like to conclude a tax loan agreement, we would recommend not to prolong till the last day but to submit a request as soon as possible.
We would like to note, that Leinonen tax team
can provide comprehensive tax advice, review of various documentation, help to
conclude a tax loan agreement or provide comments about potential risks.
The information above was prepared by the
Leinonen tax team.
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