Lithuania Updates Corporate Income Tax Loss Carry Forward Provisions

145 views

Published on

Lithuania recently implemented changes to the company income tax (CIT) law, amending changes pertaining to carry forward of losses.

Published in: Business
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
145
On SlideShare
0
From Embeds
0
Number of Embeds
1
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Lithuania Updates Corporate Income Tax Loss Carry Forward Provisions

  1. 1. Lithuania Updates Corporate Income Tax Loss Carry Forward Provisions (Bristol, UK) - Lithuania recently implemented changes to the company income tax (CIT) law, amending changes pertaining to carry forward of losses. Per the altered provisions, entities may carry forward operating losses, if the amount does not exceed 70% of the company’s income, reports Nair & Co.’s International Tax team. There are exceptions for smaller entities that benefit under a reduced CIT rate of 5%. CIT is calculated based on the company’s income earned throughout the financial year subtracting nontaxable income as well as fully and partially allowable deductions. Tax losses incurred in the preceding tax year are not considered. For more information about doing business overseas or to know more about ourInternational Expansion Services team please contact us. Subscribe to regular global tax compliance alerts from Nair & Co. Get the latest news releases and updates on international tax, HR, Finance, compliance and other legal news at Nair & Co. Industry Alerts. About Nair & Co. Nair & Co., the leader in international business expansion services, provides accounting, HR, legal, tax and compliance services for the set up and management of your international operations. Our model of a single-point-of-contact, supported by internal teams of experienced advisors, helps clients expand business and manage risk so they can focus on their core business and sustain growth with minimal risk, stress and cost. We support nearly 250 clients in over 70 countries. Nair & Co. is headquartered in Bristol, UK, has 450 employees and offices in China, India, Japan, Singapore, and the US. Learn more at www.nair-co.com
  2. 2. Media Contacts: For media enquiries or to learn to more about Nair & Co., please email us at media@nair-co.com or call Yvonne Smith at +1.408.501.8867

×