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Lithuania: Extended tax return, tax payment deadlines in response to coronavirus

Lithuania: Extended tax return, response to coronavirus

The Lithuanian government and tax authorities announced certain tax-related relief measures to assist taxpayers with their ongoing obligations in response to the coronavirus (COVID-19) pandemic.


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Corporate tax relief

Concerning corporate income tax, the deadline for filing advance corporate income tax returns and making payments of tax is deferred until 30 March 2020 (instead of 16 March 2020). Also, taxpayers are being allowed the ability to revise their advance corporate income tax calculation methods (for instance, based on estimates for the current year, instead of using the previous years’ results).

Taxpayers may also apply for a tax installment agreement to defer tax underpayments (without interest); to request a suspension of collection of tax underpayments; and to seek abatement of penalties and late-payment interest.

Individual (personal) tax relief

For individual taxpayers, the deadline for submitting their annual income tax returns and for remitting payments of tax is extended until 1 July 2020 (instead of 4 May 2020).

The electronic version of the new tax return form GPM311 will not be released now until at least April 2020.

Read a March 2020 report prepared by the KPMG member firm in Lithuania

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