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.
| Quick Facts | |
|---|---|
| Who requires accounting services in Lithuania |
-companies, -freelancers, -NGOs, -startups. |
|
Applicable accounting legislation in Lithuania |
Law on Accounting and Law on Corporate Income Tax |
|
Types of accounting services we offer |
-bookkeeping, -payroll, -financial statements, -VAT reporting. |
| Tax advice and compliance |
-Preparation and submission of tax filings and payments, -Guidance on double taxation treaties, -Monitoring and interpretation of changes in tax legislation. |
| We offer support for tax registration |
-social security contributions, -VAT, -corporate income tax, -other applicable taxes. |
| Financial planning for company owners in Lithuania |
We offer support for company owners for secure business opportunities. |
| Risk assessment and evaluation |
Our accountants review company documents to identify potential risks. |
| Types of audit services |
-statutory audit, -internal audit, -compliance audit. |
| Tax minimization methods available |
Legal deductions and incentives |
| Personalized financial consultancy services |
-financial analysis, -performance evaluation, -financial forecasting, -wealth management. |
| Investment consultancy for high-net-worth individuals |
Yes, implementation of innovative business ideas for companies in Lithuania. |
| Financial and analysis reports for companies (Yes/No) |
YES |
| Human resources services available |
-payroll, -HR compliance, -employee contracts. |
| Expertise provided by certified accountants (YES/NO) |
YES |
| Fiscal year in Lithuania | Calendar year (1 Jan – 31 Dec) |
Table of Contents
Accounting services in Lithuania for local and foreign companies
Bookkeeping, payroll, tax registration, debt monitoring, HR administration, 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 and payment of taxes, specific to 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 can be handled by our accounting experts. A series of company documents is used, such as the balance sheet, and all the financial data of a company are presented, for one year of activities.
We invite you to explore the following infographic with details about the main accounting services we offer for companies registered in Lithuania:
Accounting in Lithuania for small, medium, and large enterprises
Regardless of the type of company you have, accounting in Lithuania is a necessary service. 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. Also, it is important to notice that, depending on the company’s size, the annual financial statement requirements can vary.
Companies in Lithuania are considered of very small in size if the following statements apply on the last day of the fiscal year: net turnover during the reporting year must be a minimum EUR 700,000, the value of the assets in the balance sheet is minimum EUR 350,000 and the number of payroll workers of the company is a minimum of 10 persons. In this case, short balance sheets and short profit (loss) account statements must be prepared at the end of every financial year by the accountants in Lithuania.
When it comes to small enterprises in Lithuania, net turnover during the reporting year is minimum EUR 8 million, while the value of assets in the balance sheets prepared by our Lithuanian accountants is minimum EUR 4 million. The number of payroll workers must be a minimum of 50 persons in the reporting year. This type of companies should also prepare, with the help of our accounting services in Lithuania, balance sheets, profit and loss account statements plus explanatory notes.
Enterprises in Lithuania are considered medium-sized if at least 2 of the following statements apply at the end of the fiscal year:
- Net turnover during the reporting year is minimum EUR 40 million;
- The value of assets in the balance sheets prepared by our Lithuanian accountants is minimum EUR 20 million;
- Average number of payroll employees during the reporting year is registered around 250 persons.
Moreover, a large-sized company earns this title in the case of exceeding at least two of the medium-sized companies. Both types of companies should prepare, with the help of the accounting services in Lithuania, the following documented annual statements:
- balance sheets;
- profit (loss) account statements;
- cash flow statements;
- statements of changes in equity;
- explanatory notes.
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.
Statistical data on companies in Lithuania
Below, we also present some statistical data about the number of companies in Lithuania:
- The most recent data from May 2025 shows that there are over 199,390 companies established in Lithuania.
- Over 46,059 companies were registered in Lithuania in the services field;
- There are over 25,258 companies incorporated in the field of wholesale trade in Lithuania.
Besides the Lithuanian 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.
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. Moreover, if you have resided in this country for a longer period already and you plan to obtain citizenship in Lithuania, our immigration attorneys can offer professional support in this matter.
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.