Laurynas Totoraitis​

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Audit and assurance
Accounting & Outsourcing
Payroll Accounting
Tax
Legal advisory
Business and financial advisory
Risk management & Internal audit
Doing business in Lithuania

Audit and assurance

We will deliver the highest quality audits, combining passionate people with leading technology to build trust in society. See Overview

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.

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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... See Overview

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.

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2023 Tax laws changes affecting payroll

Inesa Greičė

| 3 min read | 09 Dec 2022

Tax laws changes affecting payroll as of January 1, 2023 in Lithuania

Payroll Accounting

Leave all the payroll accounting related tasks and issues for us. We manage your payrolls, taxes and offer customized payroll solutions to meet your business’s... See Overview

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... See Overview

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.

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Tax Alert March 2023 Proposed tax reform key elements

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... See Overview

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... See Overview

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.

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International business Three threats the mid-market saw coming for 2023

1 min read | 30 May 2023

Three of the threats uppermost in the minds of business leaders in the mid-market were inflation, cyber attack, and economic slowdown.

Risk management & Internal audit

Internal Audit, Compliance and Risk Management Solutions. Grant Thornton Experts help you Minimize risk, maximize predictability and execution. Fintech Risk... See Overview

Doing business in Lithuania

Are you Starting a Business in Lithuania? Our team provides all business services for a company set up. Company registration · Accounting and bookkeeping... See Overview

Laurynas Totoraitis

Laurynas Totoraitis is experienced legal projects‘ manager. He has led teams of 15+ people, making him well-equipped to handle fast-paced and complex legal projects.

With 7+ years of experience as a project manager, Laurynas Totoraitis has honed his leadership skills and developed a strong ability to make measured decisions.

As a seasoned board member and general manager with over 4 years of experience, Laurynas has a thorough understanding of finance and marketing. This expertise makes him a valuable asset to finance and marketing directors.

Laurynas has also established a comprehensive network of contacts in Lithuania over the course of his 11+ years of experience in the industry. As a co-founder of a startup, Laurynas has a deep understanding of the needs and mindset of the startup community.

Lastly, Laurynas works as an international legal expert who has contributed to projects for the European Commission and the Organization for Security and Co-operation in Europe (OSCE) in the areas of human rights and justice reform.

Areas of expertise: EU Digital single market, consumer protection, labour law, human rights, justice reforms.