10 Sep 2021
Advising an affiliated entity of a major Latvian bank on the purchase of one Embraer EMB-135BJ (Legacy 650) aircraft
10 Apr 2020
In light of the outspread of COVID-19 pandemia, the tax authority introduced certain changes on tax obligations of permanent residents of Lithuania who receive and pay income tax on Class B income (basically, this is income not related to employment) in Lithuania. The deadline of filing the annual tax declaration and paying the income tax was earlier set by 1 May of every succeeding year after the relevant tax year when the income was received.
Due to COVID-19, the deadline of submitting the tax declaration and paying the income tax in Lithuania was deferred by two months - all permanent residents of the Republic of Lithuania were entitled to declare and pay personal income tax on Class B income by July 1, 2020. The same applies to non-permanent residents of the Republic of Lithuania that carry out individual activity through a permanent establishment in Lithuania.
As earlier, non-permanent residents of the Republic of Lithuania are under obligation to submit a declaration on Class B income and pay the income tax within 25 days after receipt of such income.
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