No Picture

Lithuania’s tax authority pledges to investigate all Lithuanians mentioned in Panama Papers

Lithuania’s tax authorities have said they will investigate any evidence in the Panama Papers about offshore holdings of Lithuanian nationals. […]


Lithuanian corporate profits come close to record highs but labour costs pose threat

Last year Lithuanian corporate profits almost hit the record levels of 2007 with pre-tax profits reaching €4.2 billion or 40% more than in 2014. […]

Ernesta Seiliūtė

Importance of intellectual property and data protection explained by Lithuanian lawyer

On Thursday 18 February, the European Business Network (EBN) invited Lithuanian lawyer Ernesta Seiliūtė to speak about intellectual property and data protection in Lithuania. Seiliūtė is a lawyer with IPnovus Law, an international law firm specialising in intellectual property. Pirated software and other dubious programs can lead to poor data protection and data breaches, which can be extremely costly for businesses and individuals alike. […]

The State Tax Inspectorate (VMI)

Lithuanian public opposes tax inspectorate’s trawl of bank accounts, survey finds

Almost every third Lithuanian claims to know someone who has recently received illegal income. However, two thirds of Lithuanians believe that the State Tax Inspectorate (VMI) should not have access to people’s bank account balances in order to fight tax evasion, a survey by Spinter Tyrimai shows. […]

State Tax Inspectorate (VMI)

Tax authorities start trawl of citizens bank accounts for tax evasion

The government has given the go-ahead for Lithuanian tax authorities to start scrutinising Lithuanians’ bank accounts for tax evasion and unaccountable sources of income as the State Tax Inspectorate also announced all citizens had until the end of June this year to declare all gifts and undeclared loans since 2004 used to make purchases of over €15,000 or face a retrospective tax of 15% on the gifts. […]


Lithuanian revenue service sets sights on aggressive tax evaders

Even though Lithuania is not introducing any new levies this year, the country’s tax authorities are planning to increase revenues by going after businesses and individuals who use inventive tax planning strategies or use company accounts to buy goods for personal use. […]