The deadline for financial reporting is approaching fast

Attention Businesses! The deadline for financial reporting is fast approaching for Joint-Stock Companies (AB), Private Limited Companies (UAB), Public Institutions (VŠĮ), Associations, and Charitable Foundations.

Within 4 months from the end of the financial year, companies must approve annual financial statements for the previous year.

Approval methods vary:

• AB, UAB: Shareholders’ meeting
• VŠĮ, charitable foundations: Participants’ meeting
• Associations: Members’ meeting

Submit financial statements to the Register Center within 30 days after approval.

The company’s director is responsible for submission, with the option to authorize a representative. However, accountability remains with the director.

Remember, the deadline for the annual corporate income tax declaration for 2023 is June 17, 2024.

This message was written by Gabrielė Vareikė, Account Manager for NORDGAIN (NOEWE Group’s finance and accounting company)