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VAT in Lithuania – Common Mistakes 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…
Liquidation or dormancy of the legal entity?
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…
Embracing the Digital Shift
A Comprehensive Guide to e-Invoicing in Lithuania. In response to a global shift towards digitization, Lithuania has embraced eInvoicing with open arms, revolutionizing the landscape…
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…
Why is budgeting important for every business?
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…
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…
Why companies are late in submitting their annual financial statements?
Although the deadline for submitting annual financial statements has passed, there are still cases when companies have not yet managed to submit them. One of…
Calculating payroll taxes in Lithuania
Payroll taxes in Lithuania play a significant role in regulating the remuneration of employees. The Labor Code of the Republic of Lithuania provides guidelines for…
Processes of optimization and workflows
„In a rapidly changing environment of business and technology, the field of accounting could not lag behind the development. Companies which had server based accounting…