In each case, it is very important to evaluate necessary work scope of a particular company, what functions will the owner want to pass to the company accounting company, how many documents company generates per month? The more various documents (invoices, cash registers, fixed assets, banking operations, advances, etc.), the more time it will take to enter and formalize the documents in the accounting program, as well as preparation of various reports for government institutions.
Due to increasing demand for information amount, responsibility and quality of work, more and more companies want to
get professional accounting services. Based on experience, we can say that it is very useful to entrust company‘s wage, working time, accounting management and control to specialized company, which will responsibly and timely prepare financial reports, provide consultation on accounting and tax issues, represent their clients in state institutions. Therefore you will have more time to focus on the things which matters to your business development.
Accounting services at an affordable price
Our employees are the highest-level accounting professionals working adhere to applicable laws and regulations. We are dedicated to increase your company’s performance! We’ll help you to save financial expenses, because (contrary to the employment of an accountant) You do not have to spend money for employee’s training and qualification, holidays and motivation systems. Because of our flexibility at each situation, we are always searching for the best solution to meet customers’ needs by increasing the availability of business opportunities. Every customer is equally important to us, and really does not affect whether the business is still in the space of an emerging or already existing – we will help You to achieve Your goals.
Offered accounting services flexibility
Accounting covers a comprehensive accounting and bookkeeping services spectrum, therefore specific arrangements of accounting management are discussed in the mutual agreements. It is in your choice, we can fully manage your company’s accounts or just the selected area. One of our main goals is that accounting must operate effectively, operatively and with minimal costs.
The best way to get accounting services in Vilnius is to visit our office and meet with professional accountants. JSC “Auditas LT” is already more than ten years of operating company providing accounting services in Vilnius. We have accumulated many years of practical experience in accountings of variety Lithuanian and international business firms. We are doing accountings for very various companies, starting with such small trading companies like online retail shops and finishing with big international companies dealing in construction of chemical factories. Accurately and correctly kept accounting helps companies in making important decisions, evaluation of the current company’s financial condition, the available reserves for future payments, receivables, and other. We employed accountants always ensure that records are kept in compliance with local and international accounting standards guidance.
As a hired accountant, accounting conducted company performs exactly the same job, and sometimes provides even wider range of functions than the accountant. Apparently, not every accountant can advise you on the development and fiscal environment in various other countries such as Latvia, Estonia, Poland, Sweden, opening accounts in foreign banks setting up branches and representative offices. However, in cooperation with our accounting services in Vilnius not only the accounting books will be in order, but if necessary you will be able to consult with other specialists working in our company, consulting in legal, business, tax matters. Do not hesitate to entrust your company’s accounting experienced companies.
While doing business in Lithuania you always have to pay attention whether the obligation to register for a VAT in Lithuania license is mandatory or not. VAT rate in Lithuania currently is 21%. By Lithuanian law, any legal entity has to make VAT registration if they fall at least under one of the following conditions:
The obligation to register for VAT in Lithuania license for foreign legal entities
It occurs when at least one of the following condition is met :
Voluntary VAT in Lithuania registration
Each legal person engaged in an economic activity may voluntarily register for VAT in Lithuania despite mentioned conditions for VAT license registration. Typically, this is useful when goods or services are supplied to other VAT licensed legal persons. However, in each individual case separate decisions have to be made.
Like in each country Lithuania has its own taxation system. Some taxes are similar to other countries, some of them are totally different. There are more than 26 different taxes in Lithuania which legal entities have to pay. Not all taxes apply to all companies, there are certain taxes which applies specifically for factories, casinos, fuel stations, hotels and others. Each business type has its own different taxes they need to pay. It is better to have a consultation about taxes in Lithuania with one of our staff professionals prior starting a business, to be aware about possible taxes you will need to pay. Sometimes it is possible to optimize taxation for the company, please contact us to discuss possibilities.
Bellow we will overview some basic taxes which applies to all companies:
Corporate tax in Lithuania has two different rates:
15% is a standart default rate;
5% rate is for companies where average number of employess doesn’t exceed 10 and incomes during calendar year doesn’t exceed 300’000,- EUR.
Dividends are taxed as bellow:
15% for all Lithuanian citizens;
15% default rate for non-Lithuanian residents. If Lithuania has concluded a double taxation avoidance agreement with a certain state, which citizen receives the dividends, then it will be taxed in accordance with the contractual rate;
0% for all Lithuanian companies;
0% for all foreign companies, except the ones which are registered in so called “Targeted areas”.
Payroll taxes in Lithuania:
Social security tax: 39,98%
Incomes tax: 15%
Guarantee fund tax: 0.2%
We provide qualified legal and tax consulting services that meet the highest quality requirements. We work in several narrow fields and can offer quick and checked in practice decisions. We professionally provide advices not only for Lithuanian but also and for foreign physical and legal persons.
Our areas of work:
Tax consultations are provided by an excellent reputation specialists
Our specialists have an excellent reputation in matters of state agencies. According to the situation we can offer accounting solutions, prepare a tax return documents. We represent clients in tax authorities, provide services of registration in the taxpayer and VAT registry. We acquaint clients with tax-saving opportunities.
If desired, we can help to set up representative offices, subsidiaries. We advise and assist in drawing up contracts. We always strive for mutual benefit based on partnerships.
Accounting and tax consulting modalities
Tax Consultations can be provided orally or in writing, depending on the customer desire. Accounting and tax consulting price is determined by consultation time and complexity of the issues. Dealing with complex cases we prepare formal requests for public authorities and request certain tax law regulations to clarify the circumstances of the case. Bookkeeping Services is one of service which we provide among other services. Our customers who have signed a bookkeeping service contract with us, will get accounting and tax consultations free of charge. Accounting service price in each case is determined individually for each company. Contact us by phone or e-mail and we will be happy to share our many years of practical experience with you!