ARTICLE · 21 FEBRUARY 2005

Taxation of Corporate Transactions in Lithuania: Practical Approach

Norcous & Partners

Corporate mergers, consolidations, acquisitions and divisions recently have become quite often in Lithuania, therefore their tax implications should be carefully considered and effectively applied in line with the rules of Lithuanian tax legislation.

LithuaniaStrategy

Mindaugas Civilka

Arunas Sidlauskas

Applicable legislation

The tax regime for corporate deals and non-resident investors acquiring shares or assets of Lithuanian companies is mainly set out in the Corporate Profit Tax Law of 20 December 2001 and Law on Value-Added Tax of 5 March 2002. The Corporate Profit Tax Law establishes taxation rules on profit earned and/or income received by Lithuanian and foreign resident companies, including branches and permanent establishments. The Law on Value-Added Tax provides for taxable persons and objects, and the obligations of VAT payers and other persons. Tax authorities’ rulings and commentaries on tax laws do not have the status of legal acts and have no binding effect on taxpayers. But they have considerable influence on the

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Taxation of Corporate Transactions in Lithuania: Practical Approach

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