On 7 March 2023, the government of Lithuania issued a draft law to transpose the EU Public Country-by-Country (CbC) Reporting Directive into domestic law. According to the Directive, the upcoming legislation will mandate multinational corporations within the scope of the law to make public certain tax-related data on a per-country basis, applicable to financial years commencing on or after 22 June 2024. Lithuania plans to implement the “safeguard clause,” which permits in-scope multinational groups to exclude certain information for a period of up to five years if it would place them at a considerable disadvantage. However, they must provide a valid justification for the omission.
Related Posts
Lithuania proposes framework for assessing R&D activities under corporate tax incentives
Lithuania has proposed amendments to the Law on Corporate Income Tax that would establish a legal framework for
Read More
Lithuania proposes 200% corporate tax deductions for investments in select advanced technologies
Lithuania is proposing a 200% tax deduction for companies investing in certain advanced technologies under draft
Read More
Lithuania consults draft shipping tonnage tax amendments
Lithuania has opened a consultation on draft amendments to the Law on Corporate Income Tax that would extend the
Read More
Lithuania: VMI clarifies rules on foreign tax deductions
Lithuania’s State Tax Inspectorate (VMI) has updated its official commentary on the Law on Corporate Income Tax,
Read More
Lithuania updates corporate tax guidance on CFC control, PE, group definitions
The Lithuanian State Tax Inspectorate (VMI) updated the commentary to the Law on Corporate Income Tax on 19 August
Read More
Lithuania: VMI clarifies CFC taxation rules in updated guidance
Lithuania’s State Tax Inspectorate (VMI) updated its guidance on the Law on Corporate Income Tax on 11 August 2026.
Read More