Lithuania updates its blacklist in various tax aspects

January 01, 2024

On 30 November 2023, Lithuania issued an order revising its list of selected territories (blacklist), incorporating Russia as a new addition. The blacklist plays a crucial role in various tax aspects, including Lithuania's CFC rules. List of

See More

Lithuania: MoF publishes draft Law on implementation of Pillar 2 Global Minimum Tax

November 09, 2023

On 27 October 2023, the Lithuanian Ministry of Finance (MoF) published a draft law for the partial implementation of the Pillar 2 global minimum tax in accordance with  EU Council Directive 2022/2523 of 14 December 2022. The proposed

See More

Lithuania takes steps to implement Pillar 2 global minimum tax

September 20, 2023

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

See More

Lithuania updates definition of reverse hybrid entities to comply with ATAD2

July 15, 2023

Lithuania has amended its definition of a "reverse hybrid entity" to comply with the EU Anti-Tax Avoidance Directive (ATAD2). Previously, a Lithuanian entity was considered a reverse hybrid if it was owned by a tax resident of a foreign country, and

See More

Lithuania: Seimas moves one step closer to tax reform

July 10, 2023

On 27 June 2023, the Lithuanian parliament (Seimas) gave its preliminary confirmation, to a tax reform package proposed by the finance minister. The reform measures include: Proposed changes to the tax framework encompass various aspects of

See More

Lithuania: Tax Authority clarifies calculations of temporary solidarity contribution to credit Institutions

July 05, 2023

On 30 June 2023, the tax Authority of Lithuania issued a supplementary clarification “on the calculation of the temporary solidarity contribution" and additionally provides an explanation regarding the law on the temporary solidarity

See More

Lithuania: CbC reporting directive converted into domestic law

June 30, 2023

On 15 June 2023, Lithuania has published a law which transposed the EU public CbC reporting directive into domestic law. This requirement is applicable to companies and groups engaged in business activities across a minimum of two jurisdictions,

See More

Lithuania: Seimas Gazettes law on temporary solidarity contribution for banks

May 22, 2023

On 9 May 2023, Lithuania has enacted Law No. XIV-1936, published in the Official Gazette, introducing a temporary solidarity contribution on banks operating within the country. The law, which came into effect on 16 May 2023, aims to address the

See More

Lithuania implements temporary windfall tax targeting credit institutions

May 18, 2023

The Lithuanian Parliament has introduced a legislation known as the "solidarity contribution" or windfall tax, which targets credit institutions in Lithuania that are part of the European Union (EU). This tax would be applicable to the excess

See More

Lithuania considers draft order for public CbC Reporting

May 10, 2023

The Lithuanian parliament (Seimas) is currently considering draft Order 23-4588, which aims to introduce public Country-by-Country (CbC) reporting obligations in line with Directive (EU) 2021/2101. The draft Order specifies the required content of

See More

OECD: Reform Options for Climate Neutrality in Lithuania

May 01, 2023

On 24 April 2023 the OECD published a report outlining the reform options for Lithuanian climate neutrality by 2050. The report sets out the policy options that could be followed by Lithuania to reach its target for climate neutrality, taking

See More

Lithuania proposes a temporary solidarity contribution on the banking sector

March 27, 2023

On 9 March 2023, the Finance Ministry of Lithonia declared a proposal for the introduction of a temporary solidarity contribution on the banking sector. According to the proposal the key features of the proposal include: The temporary

See More

Lithuania publishes draft law to transpose public CbC reporting

March 25, 2023

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

See More

Lithuania introduces windfall tax on electricity companies

January 20, 2023

On 23 December 2022, Lithuania published Law XIV-1680 in the Official Gazette for implementing a windfall tax and solidarity contribution in accordance with EU Regulation 2022/1854. The law includes following measures: applying a 90% windfall

See More

Lithuania gazettes law for implementation of DAC7

January 18, 2023

Lithuania has published Law No. XIV-1658 in the Official Gazette to amend the Tax Administration Law related, this includes amendments for the implementation of new rules on the exchange of information on income from digital platforms (DAC7). This

See More

Lithuania: MoF announces reduced interest rate on deferred tax payment

October 05, 2022

On 27 September 2022, the Lithuanian Ministry of Finance (MoF) published the Order No.1K-325 providing a reduced interest rate on deferred payment (tax loan agreements) of taxes and fines for administrative offenses. Usually, it is equal to 0.01%

See More

Lithuania approves draft bill relating to the VAT registration threshold for related persons

August 19, 2022

On 12 August 2022, the Lithuanian Parliament accepted for consideration Bill (No. XIVP-1915), relating to the VAT Law on Calculating the VAT Registration Threshold for Related Persons. Accordingly, when related persons carry out economic

See More

Lithuania amends the APA rules

July 10, 2022

Recently, the State Tax Inspectorate of the Ministry of Finance of the Republic of Lithuania revised the Lithuanian Advance Pricing Agreements (APAs), which came into effect on 31 March 2022. Among other changes, the amendments also provide for

See More