Financial Compliance Reports Lithuania
Financial Compliance Reports in Lithuania – Stay Legally Aligned, Stay Ahead
In the modern business environment, compliance is not just a requirement—it’s a reputation-defining standard. In Lithuania, every legal entity must ensure that its financial records and reporting practices meet strict local regulations. Financial compliance reports are essential tools for achieving transparency, avoiding penalties, and maintaining strong relationships with tax authorities, regulators, and partners.
At UAB “AM Law”, we specialize in preparing and submitting comprehensive financial compliance reports for companies operating in Lithuania. Whether you’re a small local business, a growing startup, or a multinational company, we ensure your reporting is timely, accurate, and fully aligned with Lithuanian law.
What Are Financial Compliance Reports?
Financial compliance reports are mandatory financial documents that organizations must prepare and file to demonstrate adherence to Lithuania’s fiscal, legal, and regulatory standards. These reports reflect how a company manages its revenue, expenses, taxes, assets, and liabilities throughout a fiscal year.
Key reports include:
- Annual financial statements
- Corporate income tax returns
- Value-added tax (VAT) declarations
- Payroll and social insurance submissions
- i.SAF and i.VAZ electronic invoice reports
- Transfer pricing documentation
- Statistical and sector-specific reports
These documents must follow the accounting standards applicable in Lithuania: either Lithuanian Business Accounting Standards (BAS) or International Financial Reporting Standards (IFRS).
Who Needs to Submit Financial Compliance Reports in Lithuania?
The following entities must submit financial compliance reports:
- Private limited liability companies (UAB)
- Public limited companies (AB)
- Foreign company branches
- Partnerships and cooperatives
- NGOs, associations, and funds
- Sole proprietors (in certain cases)
Even inactive or dormant companies are required to file some reports to maintain legal standing.
Why Financial Compliance Reports Matter
Ignoring or mishandling your compliance obligations can lead to:
- Significant financial penalties
- Suspension from the Lithuanian Business Registry
- Tax audits and investigations
- Loss of investor trust
- Difficulty in obtaining loans or expanding operations
Conversely, proper compliance demonstrates professionalism and supports strategic growth, investor confidence, and strong regulatory relationships.
Our Financial Compliance Reporting Services
At AM Law, we provide end-to-end support in compiling, reviewing, and filing financial compliance reports in Lithuania.
1. Annual Financial Statements Preparation
We prepare all necessary financial statements according to BAS or IFRS, including:
- Balance sheet
- Profit and loss statement
- Cash flow statement
- Statement of changes in equity
- Notes to financial statements
These reports are submitted to the Centre of Registers (JAR) no later than six months after the fiscal year-end.
2. Corporate Tax Reporting
We manage your full corporate tax compliance cycle:
- Preparation and filing of the annual GPM312 tax return
- Calculation of tax obligations and deferred taxes
- Review of deductible and non-deductible expenses
- Coordination with VMI (State Tax Inspectorate)
We ensure that tax filings match your financial statements to avoid discrepancies and red flags.
3. VAT Compliance and Declarations
VAT-registered companies must file monthly or quarterly declarations. We assist with:
- Filing FR0600 VAT returns
- Submission of i.SAF invoice listings
- i.VAZ transport document compliance (if applicable)
- VAT refunds and intra-community reporting
We also help new companies with VAT registration and ongoing advisory support.
4. Payroll and Social Insurance Reporting
For employers, we handle:
- Monthly salary tax returns
- Sodra (social security) filings
- Employee declarations (GPM313)
- Contract registration and termination forms
Our services ensure accurate calculation of taxes, contributions, and deductions, as required by Lithuanian labor law.
5. Transfer Pricing Compliance
If your company engages in related-party transactions (domestic or cross-border), we provide:
- Functional and economic analysis
- Benchmarking studies
- Preparation of Local File and Master File documentation
- Compliance with OECD and Lithuanian tax authority guidelines
This protects your company from tax disputes and supports transparent intra-group pricing.
6. Statistical and Sector-Specific Reports
We manage all required reports to the Department of Statistics, including:
- Quarterly and annual performance surveys
- Labor market and wage disclosures
- Industry-specific compliance reports
These are often required even when companies are not aware of their obligations—our monitoring system ensures you never miss a submission.
Why Choose AM Law for Financial Compliance Reports?
Integrated Legal and Financial Support
We combine accounting knowledge with legal insight—ensuring your reports are compliant both financially and legally.
Cross-Border Expertise
We serve local and foreign companies, branches, and investors, offering bilingual reporting and advice in Lithuanian, English, and Russian.
Industry-Specific Knowledge
From manufacturing to tech, logistics to services, we understand your industry’s compliance landscape and reporting intricacies.
Proactive Compliance Monitoring
We track deadlines and send alerts to avoid last-minute filings, errors, or penalties.
Secure and Confidential Handling
Your data is managed securely with full respect for confidentiality and GDPR compliance.
Frequently Asked Questions
Q: Do small businesses need to submit financial compliance reports?
Yes. While some reporting requirements may be simplified, all registered businesses must submit at least minimal annual reports and tax returns.
Q: Can AM Law assist with previous non-compliance issues?
Absolutely. We offer compliance restoration services, including amending prior reports, resolving VMI issues, and reactivating suspended companies.
Q: Are your services available remotely?
Yes. We serve both local and international clients remotely and offer online consultations, document exchanges, and virtual filing.
Q: What accounting standards are used in Lithuania?
Most companies use Lithuanian Business Accounting Standards (BAS). Larger companies or those part of international groups may use IFRS.
Stay Compliant, Stay Confident – Partner with AM Law
With regulations evolving and filing systems becoming more digital, staying compliant is more complex than ever. That’s why companies across Lithuania trust UAB “AM Law” for reliable, comprehensive, and fully tailored financial compliance solutions.
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- Oath of Allegiance to the Republic of Lithuania.
- Naturalisation.
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