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    Audit and assurance
    We will deliver the highest quality audits, combining passionate people with leading technology to build trust in society.
    • Audit methodology
      At Grant Thornton, we use a single audit methodology across our global network. This means that our clients gain the same proven, high-quality approach wherever they are.
    Related insights:
    Grant Thornton International news Navigating the changes to IFRS
    1 min read | 08 Feb 2023
    This publication is designed to give preparers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting Standards. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.
    Accounting & Outsourcing
    At Grant Thornton, outsourcing represents more than €224 million of our business. Whatever the size of your organisation or wherever you are in the world, we...
    • Financial statements and consolidated financial statements
      Preparation of monthly, quarterly or annual report and consolidated report on the basis of information presented by the client.
    • Financial Accounting
      Effective bookkeeping and financial accounting are essential to the success of forward-thinking organisations. To get the optimum benefit from this part of your business, you'll need an experienced team behind you.
    • Tax compliance
      Tax is likely to have an impact on almost every business decision you make. Whatever your business’s specific needs, we respond quickly and devise solutions tailored to you. We perform VAT, income tax, social tax and other tax accounting as well as present tax declarations to the tax authorities.
    • Chief financial officer service
      Chief Financial Officer services include the periodic reporting, information systems standardization, internal document management and information flow optimization, budget preparation, cost accounting, cash flow and working capital management, financial analysis, investment return evaluation for managers.
    Related insights:
    2023 Tax laws changes affecting payroll
    Inesa Vilkaitė
    Inesa Vilkaitė
    | 3 min read | 09 Dec 2022
    Tax laws changes affecting payroll as of January 1, 2023 in Lithuania
    Tax
    Ambitious organisations need to consider their tax affairs carefully to gain trust and stay ahead of their competitors. At Grant Thornton, tax is a key part of...
    • International taxation
      Grant Thornton operations in the Baltic States give us an access to the international expertise and allow advising the client on the minimisation of tax risks arising from conducting business in a foreign tax jurisdiction. We also consult foreign investors in finding an optimum group structure and form of enterprises in Lithuania and other Baltic States.
    • Transfer pricing
      We advise the management bodies of local and multinational groups of companies in issues concerning transfer pricing of intra-group transactions and, if necessary, in the preparation of the relevant compliance documents. We also assist in preparing transfer pricing policies in order that future transactions are priced in accordance with the local as well as international regulations.
    • VAT refunds
      We advise foreign clients in issues concerning the refund of value added tax paid in Lithuania, and Lithuanian clients – in the refund of value added tax paid in the EU member states. If necessary, we carry out these procedures on behalf of the client.
    • Profit tax, tax incentives
      Our tax advisory department consults local and international clients in both everyday and specific taxation issues related to business activities.
    • Due diligence
      Making the right investment decision can have a significant impact on shareholder value. To make an informed investment decision and create the best value from the transaction you will need the following an understanding of the target business identification and understanding of key business drivers an understanding of all the relevant issues clear analysis, conclusions and recommendations.
    • Assistance and representation during tax investigations, inspections, disputes
      We provide services for registration in the Register of Taxpayers and the Register of VAT Payers. We represent clients' interests in tax disputes at the State Tax Inspectorate, Tax Disputes Commission, courts and other institutions.
    Related insights:
    Tax Alert March 2023 Proposed tax reform key elements
    Vykintas Valiulis
    Vilma Priluckytė
    Inesa Vilkaitė
    6 min read | 23 Mar 2023
    On 20 of March 2023 Ministry of Finance of Lithuania revealed proposals on tax reform, to be submitted to Parliament early May, to enter into force from the year 2024 (if adopted). Below we summarize key aspects of the tax reform, relevant for the businesses.
    Legal advisory
    Our legal advisory department consults local and international clients in the fields of civil and commercial law. Our primary fields of activity include...
    • Legal advisory for business start
      We assist to quickly establish a company, branch or permanent establishment in Lithuania, open a bank account, VAT registration and obtain all necessary licenses for activity.
    • Legal advisory for business development
      Our team has gained the greatest experience in advising international companies on the management of groups of companies. We advise and implement reorganizations or liquidations. Together with a team of tax and financial advisors, we perform a comprehensive due diligence (tax, legal & financial).
    • Labor law for CEOs and employees
      We provide modern labor law solutions for the CEO, C-level managers and employees, which are tailored specifically to your business industry. We will take care of well-judged employment contracts and benefits package, protection of confidential information and non-compete agreements, handling of employee data or stock option rules, posting of employees, employment of EU and third-country nationals, organization of telework.
    • Fintech
      With extensive experience in money laundering prevention and compliance and a strong team of financial experts, we advise clients on financial services, electronic money, licensing of payment institutions, capital formation, listing of mutual lending platform operators and other operational issues.
    • Migration and relocation
      We assist you, your family members and employees of the organization to obtain national and European Union (Schengen) visas, residence permits, e-resident status, provide mediation letters and ensure a smooth relocation to Lithuania.
    Business and financial advisory
    The success of the company and its organizational structure is driven by smart decisions and efficient management. The quality of the business solutions...
    • Due diligence
      Making the right investment decision can have a significant impact on shareholder value. To make an informed investment decision and create the best value from the transaction you will need the following an understanding of the target business identification and understanding of key business drivers an understanding of all the relevant issues clear analysis, conclusions and recommendations.
    • Fintech advisory
      The rapidly changing world and evolving technology are driving the development of new business models such as acting as a payment institution, a provider of virtual currency services and a financial institution. Grant Thornton Baltic provides support and advice to these companies.
    • Corporate finance management
      Building a successful business requires a clear vision backed by a focused strategy. To achieve this vision, businesses must negotiate an increasingly complex environment.
    • Business Valuations
      Choosing the right valuation method is the most important element in the process of estimating the fair value of a business as it must be adequate in terms of the purpose and object of the valuation. Grant Thornton uses only proven and generally accepted methods from among the wide range of income, asset and market approaches. Having conducted a preliminary analysis of the object and purpose of the valuation, we identify the method that will be the most appropriate considering the situation and characteristics of a given enterprise and the business sector in which it operates. Prior to commencing valuation, we also identify the documents necessary in the process.
    • Mergers and acquisitions
      We provide advice to clients in all material aspects of the process of conducting transactions: finding a candidate for buyer, purchase or merger, initial analysis and valuation, negotiations, due diligence, structuring transaction price, preparing legal documentation and formal closing of the transaction. We also provide consultation for management buyouts.
    • Protection of Interests of Bondholders'
      Grant Thornton provides bondholders' advocacy and protection services. We have resources, knowledge and the latest technology. Defending the interests of bondholders · Representing the interests of bondholders
    • External Financial Management Services
      Providing an external financial management services makes it possible to manage a company’s finance on a day-to-day basis by a competent economist, without the need of offering full-time employment. By cooperating with experts on managing big-budget projects, we provide our clients with excellent support in comprehensive management of company’s finance.
    • Training
      Financial Management Training and Seminars. Our experts have significant regional competence and close co-operation with our global colleagues. They happily share their expertise with our clients.
    Related insights:
    GT International press release Global business optimism falls as mid-market prepares for ‘unusual’ recession
    4 min read | 19 Jan 2023
    Many economies around the world are preparing for a rather unusual recession. One that is characterised by conditions usually associated with a boom, such as low levels of unemployment (instead of increasing levels) and central banks raising interest rates (instead of cutting them). These unusual characteristics combined with what many commentators expect to be a shallow and short recession, could mean the ‘usual’ response to a recession may not be the right course of action for businesses.
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    Tax Legal Accounting Business and financial advisory
    Proposed tax reform key elements
    Tax Alert March 2023 Proposed tax reform key elements
    On 20 of March 2023 Ministry of Finance of Lithuania revealed proposals on tax reform, to be submitted to Parliament early May, to enter into force from the year 2024 (if adopted). Below we summarize key aspects of the tax reform, relevant for the businesses.
    Vykintas Valiulis
    Vilma Priluckytė
    Inesa Vilkaitė
    | 6 min read | 23 Mar 2023
    Global business optimism falls as mid-market prepares for ‘unusual’ recession
    GT International press release Global business optimism falls as mid-market prepares for ‘unusual’ recession
    Many economies around the world are preparing for a rather unusual recession. One that is characterised by conditions usually associated with a boom, such as low levels of unemployment (instead of increasing levels) and central banks raising interest rates (instead of cutting them). These unusual characteristics combined with what many commentators expect to be a shallow and short recession, could mean the ‘usual’ response to a recession may not be the right course of action for businesses.
    4 min read | 19 Jan 2023
    Unlock the Potential of Your Business with Lithuania's E-Residence Program: Why Apply Now?
    Legal insight Unlock the Potential of Your Business with Lithuania's E-Residence Program: Why Apply Now?
    “Lithuania's e-Residence program is a digital solution that makes it easy for non-Lithuanians to start and run a business from anywhere in the world. With an e-Residence card, you can access a variety of online services and sign legal documents electronically, which greatly simplifies the process of starting a business in Lithuania.“
    Laurynas Totoraitis​
    Laurynas Totoraitis​
    | 2 min read | 13 Feb 2023
    Tax Alert March 2023 Proposed tax reform key elements
    Vykintas Valiulis
    Vilma Priluckytė
    Inesa Vilkaitė
    | 6 min read | 23 Mar 2023
    News Regarding daily allowance and other business travel expense compensation” changes
    01 Jul 2018
    Transfer pricing Tax uncertainty in intercompany financing transactions
    Žygintas Starkus
    Žygintas Starkus
    | 4 min read | 24 Feb 2022
    Tax changes 2022 Key Lithuanian tax changes as of 2022
    05 Jan 2022
    Tax Alert March 2023 Proposed tax reform key elements
    On 20 of March 2023 Ministry of Finance of Lithuania revealed proposals on tax reform, to be submitted to Parliament early May, to enter into force from the year 2024 (if adopted). Below we summarize key aspects of the tax reform, relevant for the businesses.
    6 min read | 23 Mar 2023
    Legal insight Unlock the Potential of Your Business with Lithuania's E-Residence Program: Why Apply Now?
    “Lithuania's e-Residence program is a digital solution that makes it easy for non-Lithuanians to start and run a business from anywhere in the world. With an e-Residence card, you can access a variety of online services and sign legal documents electronically, which greatly simplifies the process of starting a business in Lithuania.“
    2 min read | 13 Feb 2023
    Grant Thornton International news Navigating the changes to IFRS
    This publication is designed to give preparers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting Standards. It covers both new Standards and Interpretations that have been issued and amendments made to existing ones.
    1 min read | 08 Feb 2023
    Legal insight What business challenges year 2023 might bring and how to navigate it with expertise and confidence?
    World Economic Forum (WEF) recently issued the Global Risks Report 2023. It identifies several high impact / high probability risks related to economic downturn, warfare, societal polarization and digital privacy.
    1 min read | 06 Feb 2023
    GT International press release Global business optimism falls as mid-market prepares for ‘unusual’ recession
    Many economies around the world are preparing for a rather unusual recession. One that is characterised by conditions usually associated with a boom, such as low levels of unemployment (instead of increasing levels) and central banks raising interest rates (instead of cutting them). These unusual characteristics combined with what many commentators expect to be a shallow and short recession, could mean the ‘usual’ response to a recession may not be the right course of action for businesses.
    4 min read | 19 Jan 2023
    Tax Webinar material: Key tax changes in Baltics 2023
    Webinar material: Key tax changes in Baltics 2023: slides and video recording
    Less than a minute | 18 Jan 2023
    Tax Brochure: Key Tax changes in Lithuania as of 2023
    Grant Thornton Baltic tax specialists prepared an overview of the tax changes that have taken place in Lithuania from 2023
    1 min read | 11 Jan 2023
    2023 Tax laws changes affecting payroll
    Tax laws changes affecting payroll as of January 1, 2023 in Lithuania
    3 min read | 09 Dec 2022
    Action plan Nearly three-quarters of mid-market businesses fail to act on inflation
    New research from Grant Thornton reveals how mid-market businesses globally are failing to take adequate steps to protect their business against the threat of inflation. The research coincides with the release of Grant Thornton’s “Essential action plan for managing in inflationary times” and highlights that around three-quarters of businesses globally have not taken the actions we are recommending.
    7 min read | 19 Jul 2022
    News Relevant Labor relation changes 2022-2023
    The most relevant changes to the Labor Code of the Republic of Lithuania are for the attention of company managers, managing accounting persons and human resources managers. Some of them have already entered into force since 2022 July 1. We invite you to check what is relevant for both the employer and the employee and for general payroll accounting.
    8 min read | 14 Jul 2022
    Employer Tax 8 tax approaches for global tech employees
    In the competition to hire top talent, many tech and telecom firms are looking abroad. The industry’s employees are already more likely to be location-independent. In fact, the recent Grant Thornton State of Work survey showed that 72% are remote, and more than half rarely go into an office.
    7 min read | 19 Jun 2022
    Important news Mandatory UBO registration in Lithuania
    All legal entities established in Lithuania must receive, update and store accurate information about their Ultimate Beneficial owners (UBO). This information must be provided to the Legal entities register (UBO subsystem JANGIS) no later than 10 days from the data change.
    3 min read | 25 Apr 2022
    Transfer pricing Tax uncertainty in intercompany financing transactions
    Whenever financing needs to be granted between associated companies, either belonging to a same group or associated by other criteria, tax authorities can challenge the interest rate as being too high, or too low, and accordingly calculate additional corporate income tax. Transfer pricing, free loans, transactions between associated companies, tax advisory.
    4 min read | 24 Feb 2022
    Tax Brochure: Tax Changes in the Baltics 2022
    In the beginning of the year, several tax changes were introduced in Estonia, Latvia and Lithuania.
    1 min read | 20 Jan 2022
    Tax changes 2022 Key Lithuanian tax changes as of 2022
    Key Lithuanian tax changes as of 2022. Changes in corporate taxation, payroll taxes, personal Income Tax, Tax for Environmental Pollution, Future tax reforms.
    05 Jan 2022
    Tax changes 2022 Tax laws changes affecting payroll, 2022
    Tax laws changes affecting payroll as of January 1, 2022. The minimum monthly salary is raised, changes in the formula for calculating the amount of tax-free income, changes in pension accumulation.
    12 Dec 2021
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