Insights of experts

With the deadline for filing annual income tax returns approaching, GTB experts remind of the applicable social security contributions and PIT after reaching the income threshold of 60 national monthly average salaries

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.

Tax laws changes affecting payroll as of January 1, 2023 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.

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.