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Lithuania Tax Deductions













In Lithuanian, in addition to the deductions/credits mentioned above, deductions and business expenses may be claimed as specified below:
  • Offset of losses: - A loss may be offset without limit forward , up to 70% of the annual taxable income. Losses from securities may be offset five years forward, only against profits from securities.
    It is not possible to offset a loss backward.
  • Consolidated Statements - in Lithuania, a loss in one company of a group may not be set against a profit in another company in the group.
    There is no consolidated filing of tax returns.
  • Financing expenses - interest on credit is allowable for tax. Nevertheless, interest paid to a company owning more than 50% of the paying company is not allowed for the debt above debt to equity ratio of 4:1.


Depreciation of Fixed Assets in Lithuania

- The straight-line method or the "double depreciated balance" method may be used in Lithuania.
- The rates of depreciation in Lithuania:

Class of Asset Depreciation (years)
New and renovated buildings 8
Residential buildings 20
Machinery and equipment 5-15
Computer equipment 3
Computer software 3
Cars 4-10
Rights 3
Goodwill 15





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