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13 Aug 2012

On 19 June 2012 the Amendments to the Law on Tax Administration were adopted, under which the rights of tax administrator were expanded and new obligations were imposed on tax payers. The Law imposed obligation on Lithuanian residents to submit information to State Tax Inspectorate about transactions which comply with the following criteria:

  • Lithuanian natural person receives money from other natural persons or foreign legal entities due to conclusion of the transaction; and
  • The sum paid within 1 calendar year in relation to one transaction or several transactions with the same person exceeds 50,000 Litas; and
  • Transactions are not concluded in the form of a notarial deed; and
  • Lithuanian natural person does not receive income which is declared to the tax administrator in accordance with other tax laws.

A tax administrator shall be entitled:

  • to oblige temporarily (up to 1 year) the tax payer to make only non-cash payments to legal entities and natural persons carrying out commercial activities;
  • to form the declaration of tax payer that has not submitted tax declaration according to the data of the last declaration of previous period;
  • to exempt the tax payers or third parties from the obligation to comply with the requirements set out in the laws if the performance of tax obligations can be ensured by other instruments;
  • to exempt the tax payer from payment of interest for the tax loan, increased interest and penalty interest if separate activity of the tax payer prejudices the provisions of the tax law, but does not cause damage to the budget;
  • to recover declared taxes and taxes additionally calculated during the inspection the next day after the deadline to pay taxes determined in the tax laws.

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