On 8 September 2023, the Ministry of Finance arranged a meeting with stakeholders to discuss the transposition of Pillar 2 global minimum requirements into Lithuanian law. As per an announcement during the meeting, Lithuania intends to delay the enforcement of the core regulations for a period of six years. This includes the postponement of the income inclusion rule (IIR) and the undertaxed payment/profit rule (UTPR). The purpose of this delay is to synchronize Lithuania’s timeline for implementation with that of other EU nations and OECD member states, all of which aim to commence the complete implementation of the new corporate group profit taxation principles starting in 2025.
Additionally, the Ministry of Finance has indicated that they are currently in the process of preparing draft amendments to implement the Directive. These draft amendments will be subject to a public consultation process and coordination with relevant institutions before being submitted to the government.
