corporate income tax

The complexity of the advance payment of corporate income tax (CIT) creates administrative burdens for businesses and hinders the path to greater competitiveness. To ensure the stability of the state budget and higher tax revenue collection, the CIT regime was complemented by an advance CIT in the early years of the restoration of Lithuania\'s independence. Companies pay it before profits are earned, thus crediting the State.

The directive imposing a pan-EU 15 percent minimum effective corporate income tax on large companies, would, according to the European Commission, address tax challenges caused by digitalization and ensure that companies pay “their fair share of tax.”