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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…
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…
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…
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…
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…
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…
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…