Lithuania: Country-by-country reporting rules | KPMG | US

Lithuania: Country-by-country reporting rules

Lithuania: Country-by-country reporting rules

The rules for country-by-country (CbC) reporting in Lithuania provide the following:

1000

Related content

  • The CbC report generally is due within 12 months after the last day of the taxpayer’s financial year. 
  • There is an exception for the first CbC report for the financial year starting 1 January 2016 (or later if the financial year did not start on 1 January 2016). The first CbC report must be submitted no later than the end of the first quarter of 2018. 
  • The CbC reporting rules apply to multinational enterprises (MNEs) having an annual consolidated group revenue equal to or exceeding €750 million in the previous fiscal year. 
  • CbC reports are to be filed electronically through the systems provided by the Lithuanian tax administrator.
  • The CbC report filing can be made in parts, and the CbC report will be considered as having been completely filed when the taxpayer submits the last part of the CbC report. 
  • Group entities resident in Lithuania must provide notification to the tax authority by the end of the reporting fiscal year as to which entity is the ultimate parent, surrogate parent, or otherwise required to submit a CbC report. Otherwise, notification must be provided on the identity and residence of the CbC reporting entity (ultimate or surrogate parent). For fiscal year 2016 the deadline for such notification has been extended to December 31, 2017.

 

Read a September 2017 report prepared by the KPMG member firm in Lithuania 

© 2017 KPMG International Cooperative (“KPMG International”), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us

 

Request for proposal

 

Submit