In Lithuania, an accounting service is commonly perceived as a combination of three elements. These are accounting services, payroll accounting and tax return services. In practice, it is often the case that a client does not need the whole accounting package, but only one part of the accounting process. This is why it is common practice abroad to break down the accounting service components into separate services. Based on proven solutions in other countries, we offer our clients the flexibility of a broken-down accounting service model.

Tax returns are an obligation established by the law of the Republic of Lithuania for legal entities. The taxes that companies have to declare and pay depend on the nature of their business, their legal form and other factors. Typically, tax declarations consist of the following statements: corporate income tax (CIT), value added tax (VAT), state social insurance contributions (SSI), personal income tax (PIT), compulsory health insurance contributions (CHI), real estate tax (RET) etc.

It is important to note that even small mistakes in tax returns can lead to serious consequences, ranging from interest and penalties to legal proceedings. That’s why it’s worth entrusting this work to experts. NORDGAIN experts know all the peculiarities of tax returns and keep up to date with changes in legislation. This means that the client does not have to worry about any issues related to tax returns. We do all the reporting for them.