Statutory Reporting Lithuania - AM Law Firm

Statutory Reporting Lithuania

Statutory Reporting Lithuania

Statutory Reporting in Lithuania: Ensure Compliance with Confidence

Statutory reporting is a legal obligation for all companies operating in Lithuania. Whether you are a local entrepreneur or a foreign investor, understanding and complying with Lithuania’s financial reporting framework is essential for business success. These reports ensure transparency, keep your company in good legal standing, and avoid unnecessary penalties.

At UAB “AM Law”, we provide full support with the preparation and submission of all statutory reports required by Lithuanian authorities. Our legal and financial professionals make sure your business remains compliant with evolving regulations—efficiently and accurately.

What Is Statutory Reporting?

Statutory reporting refers to the preparation and filing of mandatory financial, tax, and employment reports to government authorities. These reports reflect your company’s financial performance, structure, and employee activity, and they are essential for audits, inspections, and long-term strategic planning.

In Lithuania, statutory reports must comply with the Law on Accounting, the Law on Financial Reporting, and sector-specific legal requirements. Each report has a strict format, deadline, and regulatory standard.

Who Must Submit Statutory Reports in Lithuania?

Statutory reporting obligations apply to a wide range of business entities, including:

  • Private limited companies (UAB)
  • Public limited companies (AB)
  • Partnerships and individual enterprises
  • Branches and representative offices of foreign companies
  • NGOs and associations
  • Freelancers and self-employed individuals (in certain cases)

Even companies with no turnover or minimal activity are still required to file some reports annually.

Types of Statutory Reports Required in Lithuania

Below is an overview of the most important reports your business may be required to submit:

1. Annual Financial Statements

These reports provide a full overview of your company’s financial health and are submitted to the Centre of Registers:

  • Balance Sheet
  • Profit and Loss Statement
  • Cash Flow Statement (if applicable)
  • Statement of Changes in Equity
  • Explanatory Notes

The deadline for submission is within six months after the end of the financial year.

2. Corporate Tax Declarations

Submitted to the State Tax Inspectorate (VMI), tax declarations include:

  • Annual Corporate Income Tax (GPM312)
  • Monthly or quarterly VAT returns
  • Dividend tax and withholding tax reports
  • i.SAF and i.VAZ files for VAT-registered entities

All tax reports must align with financial statement data to avoid inconsistencies and audit risks.

3. Payroll and Social Insurance Reporting

If your company employs workers, you must submit monthly reports to Sodra and VMI:

  • Salary declarations and social contributions
  • Registration and deregistration of employees
  • Annual employee income reports (GPM313)

These reports are legally binding and directly impact your employees’ benefits and tax status.

4. Statistical Reports

The Department of Statistics requires regular reports for economic analysis, including:

  • Quarterly and annual business activity reports
  • Employment and wage reports
  • Industry-specific data submissions

Even if your company is not selected for every statistical survey, certain reports are mandatory based on business type and turnover.

5. Regulatory Reports (if applicable)

Certain sectors, such as finance, require additional submissions to the Bank of Lithuania:

  • Capital adequacy reports
  • Anti-Money Laundering (AML) compliance reports
  • Transaction disclosures

Our legal-financial team supports businesses in regulated industries with complete compliance reporting.

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Challenges in Statutory Reporting

Even experienced business owners may face difficulties such as:

  • Interpreting evolving legal requirements
  • Navigating VMI and JAR electronic systems
  • Managing multilingual reporting for international entities
  • Aligning accounting and legal frameworks
  • Avoiding misstatements and duplicate filings

That’s why working with AM Law ensures peace of mind—we manage every detail of your statutory obligations.

Why Choose AM Law for Statutory Reporting?

Expert Guidance

Our team brings together accountants, tax consultants, and legal experts to ensure accuracy and legal compliance in every report.

Deadline Monitoring

We track your business reporting calendar and proactively prepare reports ahead of due dates, minimizing risk and penalty exposure.

Tailored Service

From startups and SMEs to international corporations, we adjust our service based on your company’s size, industry, and reporting needs.

Accuracy and Consistency

We cross-verify data across all reporting platforms, ensuring consistency between financial statements, tax returns, and payroll reports.

Multilingual Support

We communicate in English, Lithuanian, and Russian, making it easier for foreign-owned businesses to navigate the local system.

Our Process: Simple and Efficient

Step 1: Initial Consultation
We review your company structure, reporting obligations, and previous filings.

Step 2: Data Collection
We gather financial records, invoices, payroll data, and other documents required for reporting.

Step 3: Report Preparation
Our professionals prepare the necessary reports in the appropriate format and language.

Step 4: Review and Approval
You review the drafts. We make adjustments and clarify any legal or accounting matters.

Step 5: Filing and Confirmation
We file your reports on official platforms (VMI, JAR, Sodra, Statistics) and provide proof of submission.

Who We Help

Our statutory reporting services support:

  • Newly incorporated companies navigating first-year filings
  • SMEs requiring full-service outsourced compliance
  • Large businesses needing supplementary support or auditing prep
  • International companies requiring multilingual, cross-border reporting alignment

We work with a range of industries including:

Financial and legal institutions

Technology and startups

Real estate and construction

Retail and e-commerce

Transportation and logistics

Professional services

Let AM Law Handle Your Statutory Reporting Needs

Statutory reporting is more than a regulatory obligation—it’s a foundation for your company’s credibility, compliance, and financial clarity. With AM Law, you get dedicated experts who manage the entire process professionally and efficiently.

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Citizenship of Lithuania

Citizenship

  • Acquisition of citizenship of the Republic of Lithuania by virtue of birth.
  • Restoration of citizenship of the Republic of Lithuania.
  • Oath of Allegiance to the Republic of Lithuania.
  • Naturalisation.
  • By way of exception.
  • Simplified procedure.

Right to reinstate citizenship of the Republic of Lithuania to persons who had citizenship of the Republic of Lithuania and until 15 June 1940 and their descendants who have not acquired citizenship of the Republic of Lithuania before 2011-04-01.

We could help you to get citizenship in Lithaunia.

For jobseekers:

We are searching employees from Europe who would want to work in Lithaunian companies.

For employers:

We are dealing with recruitment companies all over the world and can suggest a variety of employees.