News
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…
Interview with Zita Merkelienė, Country Manager for Leinonen Lithuania
Economical situation in Lithuania is on the level that new foreign investments are quite active in our country. Even though the growth of the economy…
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…
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Tax news 2016
• One due date rule has been established for tax payments and declarations – by the 15th day of the respective month, except VAT, which…
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…
The exchange of ‘bitcoin’ into traditional currency – VAT treatment
EUCJ ruled, that aforementioned transactions constitute the supply of services for consideration and are exempt from VAT according to article 135 (1) e of Directive…
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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,…
Social security tax – additional voluntary transfer to pension funds
Therefore, the companies will have to deduct from the salary the following social security contributions:• 9% (standard tax rate applied to employees who did not…
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…