Corporate income tax solutions in Lithuania
Handling corporate income tax is an essential part of every business’s financial duties in Lithuania. It necessitates a thorough comprehension of intricate regulations and meticulous attention to detail. Our strategy is geared towards assisting businesses in confidently addressing these obstacles, guaranteeing compliance while uncovering possibilities for tax efficiency. By emphasizing precision and strategic perspective, we aid companies in fulfilling their tax responsibilities seamlessly and efficiently, offering reassurance in a continually changing tax environment.
Corporate income tax rate
In Lithuania, the Corporate Income Tax (CIT) is set at a standard rate of 15% on the taxable profits of both Lithuanian entities and permanent establishments. Smaller businesses, agricultural cooperatives, and specific R&D activities benefit from lower rates. Different tax regulations are in place for non-residents, as well as for dividends and capital gains, with certain conditions allowing for exemptions. Generally, the tax year aligns with the calendar year, and companies must submit annual CIT returns.
Our corporate income tax services
We provide a complete range of services aimed at helping businesses manage the intricacies of corporate income tax in Lithuania. Our objective is to guarantee total compliance while enhancing your tax situation, enabling you to concentrate on expanding your business. Our offerings consist of:
Corporate income tax compliance
Our Corporate Income Tax Compliance services guarantee the precise preparation and timely filing of your tax returns, fully complying with local and international tax laws. We assist you throughout the entire process, offering professional guidance on the required documentation and filing deadlines. This helps keep your business in compliance, reducing the likelihood of penalties and other tax-related complications.
Corporate income tax planning
We provide Corporate Tax Planning services focused on creating tax-effective strategies to reduce your tax obligations. Our team collaborates with you to discover and make the most of all possible credits, deductions, and exemptions. Additionally, we help you in planning your annual and quarterly tax estimates and payments, making sure that your tax strategy is compliant and in harmony with your overall financial goals.
Corporate income tax accounting
In Corporate Income Tax Accounting, we offer thorough assistance in determining both current and deferred tax liabilities. Our services ensure that your financial reports adhere completely to accounting standards like IFRS and GAAP. Additionally, we manage the reconciliation of tax accounts with your general ledger balances, delivering precise and transparent financial statements that accurately represent your company’s actual financial condition.
Tax audits and representation
If your business faces a tax audit, our Tax Audits and Representation services are available to assist you. We help prepare all required documentation and offer representation in discussions and resolutions with the tax authorities in Lithuania. Furthermore, we provide pre-audit reviews to pinpoint and resolve any potential compliance issues early on, ensuring that your business is adequately prepared for any examination.
State and local corporate income tax compliance
Our State and Local Corporate Tax Compliance services help businesses operating in various jurisdictions manage their multi-jurisdictional tax filings and payments efficiently. We offer in-depth advice on adhering to specific state and local tax laws and regulations, including information on nexus and state tax responsibilities. This support enables you to navigate the intricate world of state and local taxation with assurance.
International corporate income tax advisory
Our international corporate tax advisory service is designed to assist businesses with multinational activities in managing the complexities of international taxation. We provide strategic advice on cross-border transactions, transfer pricing, and leveraging tax treaty benefits to ensure that your global operations remain compliant and tax-efficient. Our team specializes in structuring your international business operations to achieve optimal tax results, tackling key challenges like permanent establishment risks, profit repatriation, and the handling of foreign tax credits. This service is perfect for companies aiming to grow their global presence while effectively addressing their international corporate tax responsibilities.
Corporate income tax system
Grasping the complexities of Lithuania’s corporate income tax system is crucial for any business operating within or outside the jurisdiction. Our expertise equips you with a thorough understanding of how the tax system functions, including the circumstances under which corporate income tax is imposed. We assist you in navigating the various thresholds, exemptions, and specific regulations that characterize Lithuania’s tax environment, ensuring your business remains compliant while strategically optimizing tax efficiency. By having a clear understanding of the corporate income tax system, you will be better positioned to make informed decisions that align with your company’s financial objectives and reduce potential tax liabilities.
Contact us
To learn more about our corporate income tax services or to talk about how we can help, reach out to us.
Disclaimer
Tax laws and regulations are frequently updated and can differ depending on personal situations. The information presented here serves as general advice and may not represent the latest changes. It is strongly advised to seek assistance from a qualified tax professional for specific and current guidance tailored to your circumstances.