Lithuania: Penalties and late interest payment

Penalties and late interest payment. The rules related to the imposition of penalties and the calculation of late payment interest have been changed. If a tax inspection shows that social security contributions have been illegally reduced, the deficient amount has to be paid and 50% of that amount is imposed as a penalty.

Prices of transactions that violate the arm’s length principle may increase the amount of the penalty, unless an appropriate transfer pricing documentation is presented.

Interest on the tax declared by the taxpayer but not paid or paid with delay will be calculated starting from the next calendar day after the end of the tax payment term and may be calculated for 180 calendar days. The forced recovery of declared but not paid tax may begin the day after the deadline for tax payment has expired. If a company agrees to pay the amount of tax established under the tax audit decision, those amounts have to be paid 20 days after the decision has been notified.


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