The accounting requirements for legal entities in Lithuania are governed by the Accounting Law of the Republic of Lithuania. This law sets out the basic principles of accounting, including the requirements for record keeping, financial reporting, and auditing. Each company in Lithuania must take care after their bookkeeping and provide financial reports to the government authorities.

Accounting services can be provided to the company owners remotely, personal presence is not required at the accounting company. We will prepare required documents and POA for signature to authorize our company to prepare and submit required reports to the authorities on behalf of your company.

We do provide following services:

  • Payroll accounting
  • Registration of purchase and sales invoices
  • Chief accountant services
  • Abandoned bookkeeping
  • Accounting services for nonprofits
  • Application for VAT registration
  • Preparation of VAT returns
  • Representation in state institutions “Sodra” and “VMI”
  • Income Statements
  • Calculation of depreciation of fixed assets
  • Preparation of financial statements
  • EORI number registration

There are a number of benefits to using accounting services in Lithuania. These benefits include:

  • Compliance with accounting regulations: Accounting services can help businesses to ensure that they are compliant with the accounting regulations in Lithuania. This can help to avoid penalties and fines from the authorities.
  • Improved financial reporting: Accounting services can help businesses to improve the quality of their financial reporting. This can make it easier for businesses to make informed decisions about their financial performance.
  • Reduced tax liability: Accounting services can help businesses to reduce their tax liability. This can be achieved by ensuring that businesses are claiming all of the deductions and allowances that they are entitled to.
  • Increased efficiency: Accounting services can help businesses to increase their efficiency. This can be achieved by freeing up management time and resources so that they can focus on other aspects of the business.