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Accounting in Lithuania

accounting in Lithuania

Accounting in Lithuania is carried out according to the Accounting Law of the Republic of Lithuania plus International Financial Reporting Standards. If you are looking for accountants in Lithuania and want to benefit from complete services, we recommend you contact our company for more information.

In the following lines, you can discover information about accounting in Lithuania and the procedures that must be followed by companies with activities in this country. 

Accounting services in Lithuania for local and foreign companies

Bookkeeping, payroll, tax registration, debt monitoring, HR administration, and preparation and submission of annual financial statements are some of the accounting services in Lithuania that both local and international companies can benefit from. Here are some interesting aspects in this regard, with the mention that you can always contact our accountants in Lithuania:

  • Bookkeeping involves a series of formalities and specific procedures, with the help of which financial entries and exits are recorded in the company.
  • Payroll services are provided by a specialist in the field. These include clear procedures for calculating salaries, including the payment of taxes, specific for each employee. Salaries are delivered to employees’ accounts, according to company policies.
  • Our accountants in Lithuania can also handle the registration of companies for the payment of taxes in this country.
  • Preparation and submission of annual financial statements in Lithuania come to the attention of our accounting experts. A series of company documents are used, such as the balance sheet, and all the financial data of a company are presented, during one year of activities. In Lithuania, the net income during the reporting year must be EUR 8 million.

Besides the accounting services we offer, those interested in immigration to Lithuania can be advised and guided by our specialists in the field.  They can relocate staff with our support when opening a company in Lithuania.

Other standard data accounting in Lithuania

With the help of our accounting services in Lithuania, you can ensure that the company respects all policies and aligns with local and international regulations. It is good to know that companies must submit SAF-T documents with information about the financial reporting period, the company’s accounting data, and the standard chart of accounts, to the Lithuanian Tax Inspectorate. We recommend our accountants in Lithuania for specialized help.

On the other hand, our immigration lawyers in Lithuania can help you if you want to relocate your business to this country. Also here, our specialists can help you with the formalities for residency in Lithuania if you want the employees from the country of origin to be relocated here.

Accounting in Lithuania for small, medium, and large enterprises

Regardless of the type of company you have, accounting in Lithuania is necessary to implement. With the help of our accountants in Lithuania, you can benefit from complete services, tax registration, and optimization, as well as the preparation of all the necessary documents for their presentation to the relevant authorities. Below we also present some statistical data about the number of companies in Lithuania:

  • The most recent data show that there are over 194,000 companies established in Lithuania.
  • Over 15,000 companies were registered in Lithuania in 2021.
  • There are over 53,000 companies registered in the field of services in Lithuania.

If you are interested in the services of our accountants in Lithuania, we recommend you contact us. Also, our law firm in Lithuania will be at your disposal with specialized legal services for the business sector in this country.