Walless Tax Cookie: Beware! Global profit tax took its first steps in Lithuania
2024 06 13
Lithuania introduced reporting requirements for the large groups as a first step to ensure minimum level of taxation under Pillar II directive.
Groups will have to designate a reporting entity, provide the necessary data for the calculation of a top-up tax, and keep the Tax Authorities updated throughout the process. Find more (in Lithuanian) here: https://rb.gy/fgntbf
Next steps include introduction of a domestic top-up tax from 2025 and full implementation of Pillar II Directive by the end of 2029.
Stay compliant and prepare for these changes!