The Government of Lithuania approved the draft Law prepared by the Ministry of Finance on 5 February 2025, which proposes to transpose the new provisions of the European Union (EU) legislation adopted in the field of value added tax (VAT) that are

Representatives from Russia and the UAE have signed a new income and capital tax treaty on 17 February 2025 . The treaty will come into effect after the exchange of ratification instruments, and once it is in force, it will replace the limited

Russia’s Ministry of Finance has clarified that international holding companies are not required to include the profits of their controlled foreign companies (CFCs) in their corporate income tax base for tax periods ending before 1 January

Prime Minister Gintautas Paluckas announced that the Lithuanian Parliament will consider introducing a reduced VAT rate for food products and public catering establishments in the spring session. Though he has not pledged his support, he recognized

Lithuania's State Tax Inspectorate has announced changes to tax rates that will take effect on 1 January 2025. The corporate income tax rate will increase to 16%. Small companies, defined as those with fewer than 10 employees and annual income not

Lithuania's parliament is considering a proposal to raise the VAT registration threshold from EUR 45,000 to EUR 60,000. Under the new rule, businesses in Lithuania would only need to register for VAT if their annual turnover surpasses EUR 60,000.