Lithuania: Update on business, corporate income tax; VAT and customs

Lithuania: Update on business, corporate income tax

The KPMG member firm in Lithuania prepared a report that provides information concerning the following for business and corporate income tax purposes:

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  • The rules for issuance of business certificates and the list of activities under business certificates have been amended.
  • Application of corporate income tax relief for entities operating in a free economic zone have been supplemented.

Among the value added tax (VAT) and excise and customs items are measures concerning VAT invoices in instances of advance payment, rules for import VAT deduction, rules for establishment of a VAT relief warehouse, and retail trade rules in duty-free shops. 

Information about individual (personal) income tax developments concerns new rules for the issuance of certificates concerning amounts of individual income tax paid for residents and non-residents and the calculation of income from the disposal of financial instruments.

 

Read a 2017 report [PDF 289 KB] prepared by the KPMG member firm in Lithuania

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