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March 22, 2024

Common VAT Mistakes in Lithuania and How to Avoid Them

Value added tax (VAT) – is a tax applied to goods and services in all EU countries. All countries set the rates of this tax…

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March 5, 2024

Liquidation or dormancy of the legal entity? Which option to choose.

In the constantly changing business world, it is sometimes needed not only to expand business activities, but also to suspend them or even to liquidate…

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February 15, 2024

Embracing the Digital Shift: A Comprehensive Guide to eInvoicing in Lithuania

In response to a global shift towards digitization, Lithuania has embraced eInvoicing with open arms, revolutionizing the landscape of domestic finance. The Law on Public…

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January 19, 2024

Can a company have more than one director?

Over 4 000 private limited companies were established in Lithuania last year. This legal form of legal entity (together with small partnerships) has been one…

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January 9, 2024

BALTIC TAX RATES FROM 1 JANUARY 2024

  Estonia Latvia Lithuania Corporate income tax (CIT) rate   CIT is payable upon  profit distributions (the deemed profit distribution).  CIT rate is 20%, calculated as…

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December 18, 2023

Why is budgeting important for every business and what are the risks of relying on inaccurate financial data?

Year-end is a special time for companies preparing for the coming year. Typically, one of the most important processes for a successful company is the…

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November 21, 2023

What main points to consider when having transactions with foreign companies?

When foreign company has permanent establishment in Lithuania, it is clear, that it must calculate and pay corporate income tax. Is there are any other…

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November 13, 2023

What makes the free economic zone (FEZ) attractive to investors?

When thinking of creating your own business or developing it, building a factory, logistics center, warehouse, etc., the first thing to look for is a…

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November 13, 2023

Switching Accounting Firms – A Practical Guide

Changing accounting firms can be driven by various factors, and these reasons may vary depending on the specific circumstances of the business or individual. Some…

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