News

January 26, 2023

ACCOUNTING IN LITHUANIA

GENERAL INFORMATION Accounting in Lithuania is regulated according to the following legal acts:• Accounting Law of the Republic of Lithuania*;• Business Accounting Standards or International Accounting…

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January 26, 2023

PAYROLL IN LITHUANIA

THE BASIC REQUIREMENTS FOR EMPLOYMENT CONTRACT An employment contract shall be concluded in written between the employer and the employee. The contract shall be drawn…

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January 19, 2023

BALTIC TAX RATES FROM 1 JANUARY 2023

Estonia Latvia Lithuania Corporate income tax (CIT) rate: CIT is payable upon profit distributions (the deemed profit distribution). CIT rate is 20%, calculated as 20/80…

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January 11, 2023

BUSINESS IN LITHUANIA

COMPANY ESTABLISHMENT Although the procedure to open a business in Lithuania is straightforward, the help of experienced lawyers and specialists is needed. Throughout the years…

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January 9, 2023

TAX CHANGES IN LITHUANIA AS OF 1 JANUARY 2023

Changes of the minimum monthly salary from 1 January 2023 Please be informed that the minimum monthly salary has been increased by the Lithuanian Government…

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November 22, 2022

TAX AID FOR TAXPAYERS AFFECTED BY THE ENERGY CRISIS

Lithuanian Tax Authorities (further – TA) on 31 October 2022 approved Description no. VA-83of the procedure for determining the criteria and administration of taxpayers with…

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November 9, 2022

COMPENSATION FOR WORKING IN CERTAIN CONDITIONS WILL BE GRADUALLY REDUCED AND VOIDED AS OF 1 JUNE 2023

We kindly inform you that the Lithuanian legislator is seeking to reduce the possible unfair practice by paying part of the salary to employees as…

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September 14, 2022

MORE FLEXIBILITY TO EMPLOYMENT OF HIGHER-PAID EMPLOYEES

The Labor Code of the Republic of Lithuania (LC) stands out as a comprehensive and detailed legal act that regulates many aspects of the relations…

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August 5, 2022

Tightened requirements for virtual currency service providers

On June 30, 2022, the Law of the Republic of Lithuania on the Prevention of Money Laundering and Terrorist Financing (law No. VIII-275) amending Articles…

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