On 26 May 2021, the Lithuanian government has approved the revised draft State budget for 2021 including certain support tax measures due to COVID-19 pandemic. Business that incurred losses in the period 2020 can utilize losses to offset taxable profit for the 2019 tax period. The budget also allows further extension of tax deferral payment of taxes without incurring interest until 31 August 2021.
«
OECD welcomes Costa Rica as its 38th Member
Related Posts
Andorra, Lithuania income tax treaty enters into force
The income tax treaty between Andorra and Lithuania entered into force on 24 December 2024. This agreement aims to eliminate double taxation on income and capital, fostering closer cooperation between the tax administrations of both countries to
Read MoreLithuania considers reduced VAT on essential foods, services
The Lithuanian Parliament (Seimas) accepted for consideration Draft Bill No. XVP-90 which aims to introduce a reduced 9% VAT rate on essential food products on 30 December 2024. The proposed bill also includes a measure to extend the lower VAT
Read MoreLithuania: Government proposes tax incentives to boost economic growth, reduce income inequality
The Lithuanian government has introduced new tax proposals focused on economic growth and equality in the tax system on 12 December 2024. The proposals include tax incentives for investment in advanced production technologies and green energy.
Read MoreLithuania updates CbC reporting rules for MNEs
Lithuania’s tax authority has revised its Country-by-Country (CbC) reporting requirements for multinational enterprises (MNEs), effective from 21 November 2024. All notifications must now be submitted electronically via the "Mano VMI"
Read MoreLithuania gazettes 2025-27 budget, increases tax-exempt income threshold
Lithuania has published its budget plan for the three-year period from 2025 to 2027 in the official gazette on 19 December 2024. Key changes include an increase in the tax-exempt income threshold for 2025. Even though the budget for the next
Read MoreLithuania: Parliament approves tax treaty with San Marino
The Lithuanian Parliament (Seimas) has approved the ratification of the income and capital tax treaty with San Marino On 17 December 2024. Earlier, officials from Lithuania and San Marino signed a tax treaty on 17 May 2024. This agreement will
Read More