Due to increasing demand for information amount, responsibility and quality of work, more and more companies want to get professional accounting services. Based on experience, we can say that it is very useful to entrust company‘s payroll management, working time tables, accounting and control to a specialized company, which will responsibly and timely prepare financial reports, provide consultation on accounting and tax issues, represent their clients in state institutions. Therefore you will have more time to focus on the things which matters to your business most.

Accounting services at the highest standart

Our employees are the highest-level accounting professionals working adhere to applicable laws and regulations. We are dedicated to increase your company’s performance! We’ll help you to save financial expenses, because (contrary to the employment of an accountant) You do not have to spend money for employee’s training and qualification, holidays and motivation systems. Because of our flexibility at each situation, we are always searching for the best solution to meet customers’ needs by increasing the availability of business opportunities. Every customer is equally important to us, and really does not affect whether the business is still in the space of an emerging or already existing – we will help You to achieve Your goals.

Flexibility of accounting services

Accounting covers a comprehensive accounting and bookkeeping services spectrum, therefore specific arrangements of accounting management are discussed in the mutual agreements. It is in your choice, we can fully manage your company’s accounts or just the selected area. One of our main goals is that accounting must operate effectively, operatively and with minimal costs.

Accounting services in Vilnius

The best way to discuss about the accounting services is to visit our office and meet with the representive. UAB “Auditas LT” is already operating more than 20+ years providing accounting services in Lithuias capital city Vilnius. We have accumulated many years of practical experience in accountings of variety Lithuanian and international business firms. We are doing accountings for a various type of companies, starting with such small trading companies as an online retail shops and finishing with big international companies dealing in construction of chemical factories. Accurately and correctly kept accounting helps companies in making important decisions, evaluation of the current company’s financial condition, the available reserves for future payments, receivables, and other. Our accountants will always ensure that the records are kept in compliance with local and international accounting standards guidance.

As a hired accountant, accounting conducted company performs exactly the same job, but at the sme time provides even wider range of functions and services than the accountant, as we have more different specialization staff working at the same office. However, in cooperation with our accounting services in Vilnius, not only the accounting books will be in order, but if necessary you will be able to consult with other specialists working in our company, consulting in legal, business and tax matters. Do not hesitate to entrust your company’s accounting experienced companies.

While doing business in Lithuania you always have to pay attention whether the obligation to register for a VAT in Lithuania license is mandatory or not. VAT rate in Lithuania currently is 21%. By Lithuanian law, any legal entity has to make VAT registration if they fall at least under one of the following conditions:

1. Over the past 12 months, company’s reward for services rendered and / or supply of goods within the country exceeded 45 000 €;
2. If a natural or legal person alone or with related persons controls more than one company, and if those companies all together incomes over the past 12 months exceeded 45 000 € an obligation to register for VAT license falls to all related companies and owners (if owners are carrying out economic activities), regardless of the fact that each company separately earned less than 45 000 € in the last 12 months;
3. If goods are purchases from other EU member countries and the total purchase amount per calendar year exceeds 14 000 €.

The obligation to register for VAT in Lithuania license for foreign legal entities
It occurs when at least one of the following condition is met :

1. Provides services or goods in the Lithuanian territory. It does not matter what kind of goods or services legal entity is providing, or how much incomes are generating, in this case, the taxable person must register as VAT payer from the beginning of the economic activity in Lithuania;
2. Supplies goods from Lithuania to other EU member countries and/ or outside EU;
3. If another EU member legal entity is already registered for VAT license in their own country and engages distance selling in Lithuania and the value of goods supplied in a calendar year exceeds 35 000 €;
4. In Lithuania’s territory from other EU member countries purchased goods, which in a calendar year exceeded 14 000 €. In this amount purchases of the new vehicles and excise good are not counted;
5. Also, the Lithuania’s tax law gives exceptions to the rules, and additional terms for particular complicated taxable cases;

Voluntary VAT in Lithuania registration
Each legal person engaged in an economic activity may voluntarily register for VAT in Lithuania despite mentioned conditions for VAT license registration. Typically, this is useful when goods or services are supplied to other VAT licensed legal persons. However, in each individual case separate decisions have to be made.

Like in each country Lithuania has its own taxation system. Some taxes are similar to other countries, some of them are totally different. There are more than 26 different taxes in Lithuania which legal entities have to pay. Not all taxes apply to all companies, there are certain taxes which applies specifically for factories, casinos, fuel stations, hotels and others. Each business type has its own different taxes they need to pay. It is better to have a consultation about taxes in Lithuania with one of our staff professionals prior starting a business, to be aware about possible taxes you will need to pay. Sometimes it is possible to optimize taxation for the company, please contact us to discuss possibilities.

Bellow we will overview some basic taxes which applies to all companies:

Corporate tax in Lithuania has two different rates:
17% rate is a standart default rate;
7% rate is for companies where incomes during calendar year doesn’t exceed 300’000,- EUR.
0% rate for the first and second year if incomes during calendar year doesn’t exceed 300’000,- EUR, company shareholders natural persons only and during three consecutive tax periods, the company’s activities are not suspended, it is not liquidated, reorganized, and the company’s shares (parts, shares) are not transferred to new participants.

Dividends are taxed as bellow:
15% for all Lithuanian citizens;
15% default rate for non-Lithuanian residents. If Lithuania has concluded a double taxation avoidance agreement with a certain state, which citizen receives the dividends, then it will be taxed in accordance with the contractual rate;
0% for all Lithuanian companies;
0% for all foreign companies, except the ones which are registered in so called “Targeted areas”.

Payroll taxes in Lithuania:
Social security tax: 39,98%
Incomes tax: 20-32%
Guarantee fund tax: 0.2%

We provide qualified legal and tax consulting services that meet the highest quality requirements. We work in several narrow fields and can offer quick and checked in practice decisions. We professionally provide advices not only for Lithuanian but also and for foreign physical and legal persons.

Our areas of work:

• Companies and businesses purchase, sale, interception;
• Companies Audit and accounting services;
• Preparation of documentation for the various authorities for certificates, licenses reception;
• Preparation of complaints, proceedings and other documents;
• Companies internal documents: internal work rules, job description, magazines, order projects, employment contracts, collective agreements, authorized capital increase documents, material responsibility contracts and so on;
• Preparation of contracts: loans, buying/selling, renting, representation, equipment, copyright, labour and others;
• Debt recovery. Promptly evaluating the situation and properly preparation of the action plan, recover the debts from the debtors.

Tax consultations are provided by an excellent reputation specialists.
Our specialists have an excellent reputation in matters of state agencies. According to the situation we can offer accounting solutions, prepare a tax return documents. We represent clients in tax authorities, provide services of registration in the taxpayer and VAT registry. We acquaint clients with tax-saving opportunities.

If desired, we can help to set up representative offices, subsidiaries. We advise and assist in drawing up contracts. We always strive for mutual benefit based on partnerships.

Accounting and tax consulting modalities
Tax Consultations can be provided orally or in writing, depending on the customer desire. Accounting and tax consulting price is determined by consultation time and complexity of the issues. Dealing with complex cases we prepare formal requests for public authorities and request certain tax law regulations to clarify the circumstances of the case. Bookkeeping Services is one of service which we provide among other services. Our customers who have signed a bookkeeping service contract with us, will get accounting and tax consultations free of charge. Accounting service price in each case is determined individually for each company. Contact us by phone or e-mail and we will be happy to share our many years of practical experience with you!