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Lithuanian Legal and Tax News

05.07.2016
Since the restoration of the independence in 1990 Lithuania has been firmly applying the principle of prohibition of double citizenship. There are, however, exeptions that allow eligible...
10.06.2016
Corporate income tax in Lithuania is paid by domestic companies – residents, non-residents and non-resident permanent establishments that perform economic activity in the country. Taxable objects...
18.05.2016
If one is planning to start a company and business in Lithuania, they should be aware of the company name requirements in the country. Please be informed on requirements on company names valid in Lithuania as...
21.04.2016
A micro company (MB) is a legal form of business that was introduced in Lithuania in 2012. MB is not required to have a minimum share capital, thus a micro company may be...
07.03.2016
Part 3 Register the transfer of title to the property in the Real Estate Register According to the Lithuanian law, the registration of...
03.03.2016
Part 2 Request for clarification and revision of cadastral and registration data For the execution of the sale-purchase agreement a notary...
29.02.2016
Part 1 This real estate guide gives an overview introduction to the key requirements when buying or selling real estate in Lithuania. This article is...
26.02.2016
Our law firm represents log house producer from Netherlands in civil case regarding infringement of registered community design rights. Claim is raised in Vilnius county court...
21.10.2015
Consolidated reporting is regulated by the Law on Consolidated Financial Statements of Enterprises. An entity having one or several subsidiary undertakings must draw up...
20.10.2015
The government has approved the proposal submitted by the Ministry of Social Security and Labour to increase minimum wage following July 1, 2015. The new monthly minimum wage...
03.09.2015
Every product has its own features such as lines, contours, colors, shape, texture and materials used, or its ornamentation. The design of a product is very important and can be protected by registering it as a...
05.08.2015
Protecting EU market from counterfeit products is a constant struggle. For this reason, new systems to protect intellectual property right holders are...
03.08.2015
Nowadays word-of-mouth is not considered a reliable way to inform customers about company’s production. Advertising is crucial in order to get rapid sales of a product or service, and to have a successful...
14.07.2015
Registering your invention seems like a long and complicated process. Taken into account the administrative burden and patenting costs, inventors often ask “is it really worth it”?...
14.05.2015
Taxpayers Corporate income tax is paid by: domestic companies – residents; non-residents; non-resident permanent establishments that perform economic activity. Taxable...
06.05.2015
General corporate income tax rate in Lithuania is 15%. However, following the provisions of the Law on Corporate Income Tax, small companies can benefit from 5% corporate income...
15.04.2015
Commission of European Union released 18 March 2015 new tax transparency package. The package is aimed to put down tax avoidance and transfer pricing arrangements...
30.03.2015
According to the Law on Citizenship, persons whose ancestors were citizens of Lithuania have a right to reinstate their citizenship. But what seems as a simple administrative procedure, can...
17.03.2015
Structure Personal income tax is imposed on income acquired by a natural person, and it consists of: income from employment; business income (self-employed income); gains from transfer of...
26.02.2015
Procedures For Terminating the Agreement In all cases the termination of an employment contract must comply with the...

Latvian Legal and Tax News

13.07.2016
On July 1, 2016, amendments to the Immigration Law of the Republic of Latvia came into force, modifying the provisions for receiving temporary residence permit and reissuance of the...
20.06.2016
Latvia has listed 62 countries on a list of low or no tax states. Transactions with these countries have special regulations and are subject to particular taxes applicable for individuals and legal persons....
23.05.2016
Traditionally, trademarks are consisted of words, logos or graphic designs applied to goods or packaging. Usually, certain procedure is required, as well as compliance with the existing rules and legislation (e.g....
13.05.2016
There are several ways how company can motivate there employees- rise in salary, bonuses, health insurance and other benefits. Most of these cause extra tax burden to...
02.03.2016
If the foreigner is planning to start the business in Latvia there are following possibilities how to receive a temporary residence permit: by investment at least 35 000 EUR in the...
25.01.2016
Part 2 Real estate payment This process can be selected and determined by the Parties. For example: the purchase price is paid at the moment of...
22.01.2016
In today's Latvia, a foreign national essentially stands in the same position as a Latvian citizen when it comes to the purchase of the real estate and to the costs associated with...
06.10.2015
Starting from 13th May 2015 new amendments in micro company tax are in force. The previous regulation of micro company tax Till the amendments the following rates of...
16.06.2015
The Law on Consolidated Annual reports applies to commercial companies and co-operative societies registered in Latvia (hereinafter – the company) if they are parent...
04.06.2015
As of 1 January 2013 the holding regime has been introduced in Latvia. Such regime provides less tax burden In Latvia from receiving and distributing profits. Receiving dividends and profit taxation In line with Latvian legislation...
01.06.2015
On Thursday, 7 May, the Parliament of the Republic of Latvia endorsed the new concept of the Repatriation law on the first reading. According to present version of...
26.05.2015
General principles Forums For Adjudicating Employment Disputes The Labour Dispute Law...
13.04.2015
Taxpayers Corporate income tax is paid by: domestic companies – residents; non-residents; permanent representative offices of non-residents that perform economic...
10.04.2015
According to the Law on Citizenship, there are three ways how person can become citizen of Republic of Latvia- ancestors of...
31.03.2015
It makes us proud to announce that Gencs Valters Law Firm, a full service law firm in Latvia, Estonia and Lithuania, has crossed another milestone. On March 9th, 2015 our firm celebrated 15 Year...
23.02.2015
Structure Personal income tax is imposed on income acquired by a natural person, and it consists of: salary tax calculated from the income acquired by the employee and is paid by the employer; fixed...

Estonia Legal and Tax news

12.07.2016
According to the Commercial Code there are five forms of business entities, which are created by entry into the Commercial Register: private limited company, public limited company, general partnership, limited...
01.06.2016
Corporate income tax in Estonia is paid by domestic companies – residents, permanent establishments of non-residents that perform economic activity in the country (including branches) and non-residents acting as...
29.04.2016
The Estonian Parliament adopted on 20th of April 2016 changes in the Estonian Income Tax Act, which aim was to take over the...
07.04.2016
The WIPO (The World Intellectual Property Organization) has the Recommendation for the Protection of Well-Known Marks that is ’soft-law’, meaning that it is not a binding legal instrument. Majority of the...
18.01.2016
Part 3 Paying the state fee for an real estate application in the Land Register After the conclusion of a purchase agreement, the state fee must be paid at a...
14.01.2016
Part 2 Concluding a reservation agreement After successfully examining through the relevant information and documents, the next step is to conclude a reservation...
11.01.2016
This article gives you an overview about the key requirements for purchasing or selling real estate in Estonia. This summary is not complete or exhaustive, since each particular category...
22.10.2015
Upcoming changes in submission of annual accounts in Estonia The Ministry of Justice of the Republic of Estonia has sent to the Government of Estonia a bill regarding changes in submission of the...
07.09.2015
Part three Types Of Agreement Employment contracts may be: non-term; fixed-term, temporary, seasonal; on additional work, secondary job; with home workers; on the supply of servicesand other. As a rule, an employment contract...
21.07.2015
Location Of Work/Mobility The employee’s normal place of work must be specified by the employer in writing. Mobility clauses can be included in the contract ofemployment, but they cannot be...
07.07.2015
Legal Requirements As To The Form Of Agreement There is no legal requirement for a contract to be in writing. If a person does work for another person for remuneration, it is presumed to be an employment contract and...
11.06.2015
Part one Forums For Adjudicating Employment Disputes The Labour Inspectorate has exclusive jurisdiction for most employment claims, but in certain cases and when the parties fail to reach...
07.05.2015
As of 1st of April the Aliens Act that regulates the bases for the entry of foreigners into Estonia, their...
27.04.2015
Taxpayers Corporate income tax is paid by: domestic companies – residents; permanent establishments of non-residents that perform economic activity (including...
02.04.2015
Taking into account that there are different corporate tax rates in European Union member states, corporate income tax is used as a tool to attract...
24.03.2015
From January 2015 Estonian Commercial Code was amended. The most significant change was new simplified procedure for...
20.03.2015
On the 11th of February the Parliament of Estonia adopted new amendments to the Commercial Code. These...
17.02.2015
Structure Personal income tax is imposed on income acquired by a natural person, and it includes: income from employment; business income (self-employed income); gains from transfer of...
10.02.2015
The ruling regarding minimum rate of interest on fringe benefits from the Minister of Finance was nullified and staring from2015 issuing loans on market terms to the employees or persons equal...
04.02.2015
European Union citizens EU citizens have the right to stay in Estonia on the basis of a valid travel document or identity card for the period of up to 3 months. If the person wishes to stay...

For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu


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