CbyC reporting rules | KPMG | LT

CbyC reporting rules approved by the Lithuanian Tax Administrator

CbyC reporting rules

On 31 May 2017, the Lithuanian Tax Administrator approved rules which apply to country-by-country (CbyC) reporting in Lithuania.

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According to the approved rules the CbyC report must be submitted within 12 months after the last day of the taxpayer’s financial year. An exemption applies to the first CbyC report which must be submitted for the financial year starting on 1 January 2016 or later if the financial year starts not on 1 January 2016. The first CbyC report must be submitted no later than the end of the first quarter of 2018. Applies to MNEs with annual consolidated group revenue equal to or exceeding €750 million in the previous fiscal year. Regulations extend to subsidiary entities. 

CbyC reports will be submitted electronically through the systems provided by the Lithuanian Tax Administrator.

It is approved that the CbyC report can be submitted through several parts. In this case it is considered that CbyC report is completely submitted when the taxpayer submits the last part of the CbyC report. 

Group entities resident in Lithuania must provide notification to the tax authority by the end of the reporting fiscal year on whether they are the ultimate parent, surrogate parent, or otherwise required to submit report (secondary local filing); otherwise, notification must be provided on the identity and residence of reporting entity (ultimate or surrogate parent). For fiscal year 2016 the deadline is extended to December 31, 2017.

© 2017 "KPMG Baltics", UAB, a Lithuanian limited liability company and a member firm of the KPMG network of independent members firms affiliated with KPMG International Cooperative ("KPMG International") a Swiss entity. All rights reserved.

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