News
Decision of The Supreme Administrative Court
Decision of The Supreme Administrative Court of Lithuania regarding the obligation of the company to collect information about a credibility of its business partners. Based…
Smart Tax Administration System i.MAS
3 major obligations as a result of which companies may be caused to sustain significant IT costs. The State Tax Inspectorate is developing a smart…
European Union Court of Justice
VAT taxation of unused local flight tickets. EUCJ has explained, that the issue by an airline company of tickets is subject to value added tax…
Smart Tax Administration System (I.MAS) – 7 subsystems
I.MAS will consist of 7 subsystems:1. Smart cash register subsystem (i.EKA) – taxpayers will be obliged to provide information to the tax authority on cash…
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Declaration on Compliance of Packaging
The procedures shall be applied to all empty packaging and packaging filled with goods placed on the market, except for the packaging filled with goods,…
3 essential factors for the successful performance of inventory obligations
The said obligation is enforced in the Law on Financial Accounting of the Republic of Lithuania, indicating thereof that accounting data are based on the…
Easier debt recovery using PLAIS system
The system centralises administration of information on monetary fund restrictions, sends information to banks on restrictions orders and proportionally distributes funds to creditors. Previously a…
Reverse-charge VAT
Reverse-charge VAT is applied on goods bought together with installation services. It must be noted that this applies only in cases when such goods are…