The main changes are:

  • The fines imposed can range from 10€ to 6000 €.
  • A new procedure of preparing transfer pricing documentation must be followed; the fines of non-compliance are 1400 €- 4300 €, and for repeated offence 2900€- 5800 €.
  • An employee of a company can be held liable for violations and fines can be imposed directly on the employee.
  • Tax evasion not exceeding 10 base amounts of fines and penalties (376,6 €) will be subject to an administrative liability (instead of criminal liability), and fined in the range of 150€- 600€.
  • The sanctions for improper implementation of the Code are not applied if the company has followed the written or publicly available comments published by the authorized institution.

Read closer on our Lithuanian website: https://leinonen.lt/news/news-2017/new-code-of-administrative-offences