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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…
PAYROLL IN LITHUANIA
THE BASIC REQUIREMENTS FOR EMPLOYMENT CONTRACT An employment contract shall be concluded in writing between the employer and the employee. The contract shall be drawn…
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…
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…
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…
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…
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…
Labour code amendments as of 1 August 2022
New amendments to the Labor Code of Lithuania are entering into force on August 1, 2022. Please check below the main changes that come into…
Changes in legislation regulating reduction of daily allowance
As of 1 July 2022 Government Resolution No. 526 “On the Payment of Daily Allowance and Other Business Trip Expenses”, which sets the maximum amounts…