Contributed by Accounting & Financial Services, Lithuania

The Lithuanian State Tax Inspectorate (STI) has announced that over 39,000 taxpayers who have been included in the affected-by-COVID-19 list have already concluded more than 14,000 interest free tax– loan agreements with STI.

Lithuanian taxpayers, included into the list of affected-by-COVID-19 and having tax debts to STI accrued before August 31 2021, are eligible for interest–free set out of those debts up until December 31 2022. The deadline to apply for this incentive was August 31 2021. 15,000 applications have been received.

Taxpayers also have an option to extend the repayment of tax debts for a maximum period of 5 years, however, starting as of January 1 2023, unpaid tax debts will bear an interest of  0.01 % per day.

It is worth to mention that taxpayers, included into the list of affected-by-COVID-19, having tax debts to STI and not applied for the above incentive, are required to settle their tax debts in full not later than until 31 October 2021. As of November 1 2021 all unsettled tax debts will be charged with interests and enforced by STI.

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