Lithuania: Miscellaneous

Tax accounting system. On 1 June 2011 the new tax accounting system (MAIS) has been launched. According to the tax authorities, it will contribute to administer tax collection and supervise the duties of the taxpayers more efficiently.
With this system new procedures on calculating tax payments will be applied automatically by offsetting amounts paid by the taxpayer against unpaid tax duties. Previously taxpayers had to pay first taxes newly calculated.
Also the number of payment codes has been reduced more than ten times, from 1,500 to 110. The same tax code will apply to tax and late payment interest as well as to tax payments following tax audit assessments. Separate codes will remain for personal income tax, compulsory health insurance, land tax, excise duties etc.

Corporate Income Tax. The tax authorities have introduced a supplement to the commentary on article 31 of the Corporate Income Tax Law, explaining that when calculating the corporate income tax for 2010 and later tax periods, the following payments are to be considered allowable deductions: a part of the profit attributed to the expenses for the benefit of employees and/or their family members according to the respective rule of the Corporate Income Tax Law may be treated as limited allowable deductions.
A part of the company’s profit attributed to payments for board and supervisory board members, benefit of employees and/or their family members according to the respective rule of the Corporate Income Tax Law may be treated as limited allowable deductions under the same rules they are treated as expenses in accounting.

Personal Income Tax. According to the tax authorities, the salary paid by a Lithuanian company to a Lithuanian tax non-resident for work performed abroad is not subject to personal income tax. In such situations the company has only to report these payments and present a document proving the non-resident status of the person in question and the confirmation that the work is performed abroad.

Share

Tags: , , , ,

Lascia un Commento

L'indirizzo email non verrà pubblicato. I campi obbligatori sono contrassegnati *

*

È possibile utilizzare questi tag ed attributi XHTML: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>