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Doing Business Guide in the Baltics.
11.07.2017
Violation of work remuneration provisions in Lithuania is a subject to administrative liability...
05.10.2016
Lithuania offers great incentives to incorporate for the Polish. Double Taxation Avoidance Agreement signed between Lithuania and Poland includes possibilities of 5% tax on...
28.09.2016
Lithuania offers great incentives to incorporate for the Polish. Double Taxation Avoidance Agreement signed between Lithuania and Poland includes possibilities of 5% tax on...
15.09.2016
Research and Development is highly encouraged in Lithuania as firms can deduct R&D expenditures 3 times. Moreover, 5% Corporate Income Tax is possible for the small...
04.08.2016
Tax benefits for Polish for personal income in Lithuania According to Lithuanian-Polish Double Taxation Avoidance Agreement Article 25, Polish resident that receives income in Lithuania is required to pay 15% tax...
03.05.2016
Corporate income tax in Lithuania is paid by domestic companies – residents, non-residents and non-resident permanent establishments that perform economic activity in the country. Taxable objects in...
21.04.2016
A micro company (MB) is a legal form of business that was introduced in Lithuania in 2012. MB is not required to have a minimum share capital, thus a micro company may be...
28.07.2015
Following the amendments of the Law on VAT, reverse VAT charge shall also apply for construction works, even if customer and contractor are both established in...
21.07.2015
The MOSS system, otherwise referred to as mini one stop shop will allow merchants all over the EU to pay VAT more easily. The MOSS system has been introduced to ease the...
30.06.2015
Consolidated reporting is regulated by the Law on Consolidated Financial Statements of Enterprises. An entity having one or several subsidiary undertakings must draw up...
05.05.2015
Taxpayers Corporate income tax is paid by: domestic companies – residents; non-residents; non-resident permanent establishments that perform economic activity. Taxable...
15.04.2015
General corporate income tax rate in Lithuania is 15%. However, following the provisions of the Law on Corporate Income Tax, small companies can benefit from 5% corporate income...
17.02.2015
Structure Personal income tax is imposed on income acquired by a natural person, and it consists of: income from employment; business income (self-employed income); gains from transfer of...
29.01.2015
Lithuania has included 58 countries to a list of low or no tax states. Transactions with these countries have special regulations and are subject to particular taxes applicable for individuals and...
15.01.2015
Few Corporate income tax amendments applicable for 2014 income is a good sign, indicating stability in Lithuanian corporate tax system. Besides that, most of law changes are business...
13.01.2015
Beginning of new financial year is a need to review legal requirements applicable to taxation of 2014 year’s income. There were several substantial amendments of Personal income tax law in...
05.11.2014
The law which determines the rules of payment of this tax is the Law on Real Estate Tax of the Republic of Lithuania (hereinafter – the Law). According to the provisions of the Law, Lithuanian and foreign natural persons as...
24.10.2014
The Law on Value Added Tax of the Republic of Lithuania is the main legal act regulating calculation, payment and declaration of value added tax. Currently in Lithuania value-added tax (VAT) rate is 21%. It shall be...
09.10.2014
On the January 1, 2006 a Law on Real Estate Tax has entered into force. The tax ranges from 0,3% to 3% and it is paid by real estates intended for certain purposes (administration, accommodation, trading, services, catering,...
01.09.2014
The Law on Tax Administration, originally adopted in 13 April 2004, sets out the general taxation principles in Lithuania. This law sets basic concepts and regulations which must be observed in...
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For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu


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