Lithuania: Corporate income tax

Alessandro PasutCompanies may reduce their taxable profits up to 50% by the amount of expenses incurred for investment in certain fixed assets such as machinery and equipment, computer hardware and software, communication equipment, acquired rights. The investment assets must be new and produced not more than 2 year ago. Part of the acquisition costs of fixed assets, which has not been utilised during the taxable year, may be carried forward, but not more than 4 years. The tax authorities should be notified that the company is performing an investment project. The income of foreign entities received from a Lithuanian entity is considered to include not only annual payments (bonuses) for activities of members of the supervisory board but also any benefits from Lithuanian entities for the activities of the previously mentioned members.

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