The Ministry of Finance of the Republic of Lithuania published new draft TP requirements. From 2018 onwards, these Draft TP Rules require Lithuanian entities and foreign entities operating in Lithuania through a permanent establishment (PE) to prepare a Master File and Local Files if their turnover exceeds EUR 15 million. The Draft TP Rules have been prepared based on the guidelines provided by BEPS Action 13 as well as the EU TP documentation Code of Conduct. However, the Draft contains some additional requirements, even information that has not been covered by either the OECD Guidelines or the EU Code of Conduct.
How can Quantera Global help?
At Quantera Global, we can assist you with all aspects of the preparation and maintenance of transfer pricing documentation, tailored to your company’s needs. Our best practice processes enable preparation of high-quality documentation, in a streamlined, timely and cost-efficient manner. We can assist you with the preparation of and establishing the procedures for the Master File, Local Files and Country-by-Country reporting.
For further reading, click LT Draft TP Amendment.
If you need immediate assistance, contact Arnas Laurynas or your trusted Quantera Global Advisor. We are always happy to assist you.