The main changes are:

  • The fines imposed can range from 10€ to 6000 €.
  • A new procedure of preparing transfer pricing documentation must be followed; the fines of non-compliance are 1400 €- 4300 €, and for repeated offence 2900€- 5800 €.
  • An employee of a company can be held liable for violations and fines can be imposed directly on the employee.
  • Tax evasion not exceeding 10 base amounts of fines and penalties (376,6 €) will be subject to an administrative liability (instead of criminal liability), and fined in the range of 150€- 600€.
  • The sanctions for improper implementation of the Code are not applied if the company has followed the written or publicly available comments published by the authorized institution.

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