Global

Details

  • Service: Tax, Global Indirect Tax, Mergers & Acquisitions, International Executive Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 4/29/2013

Lithuania - Property declarations, social insurance, pensions, loss carryforwards, VAT 

April 29:   Current tax developments in Lithuania include the following:
  • Individual income tax returns and property declarations are due 2 May 2013. The list of taxpayers or entities required to file a property declaration has been expanded.
  • There is a new annex concerning social insurance for self-employed individuals.
  • Individuals must decide on the method of pension funding, and must inform their pension accumulation company by 1 September whether they elect to continue to pay additional contributions or to return to the state social insurance fund.
  • New language has been added to the rules for tax loss carryforwards in situations of reorganization, transfer, restructuring, and liquidation.
  • Changes to the value added tax (VAT) rules concern invoices and concerning tourism services.
  • Changes to the excise tax / duty rates are effective 1 January 2013.
  • There are new measures under the labor law provisions addressing employee terminations.

Read an April 2013 report [PDF 139 KB] prepared by the KPMG member firm in Lithuania: Tax,
Legal and Accounting Newsletter (April 2013)




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