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2016-01-09 21:15
1 Tax Treaties and Residence 1.1 How many income tax treaties are currently in force in Lithuania? Lithuania currently has 53 treaties on the avoidance of double taxation of income and capital in force. At the moment, two more treaties with Kuwait and Morocco are pending. However, it is expected that they will come into force in the near future and will increase the number of treaties in force to 55. 1.2 Do they generally follow the OECD Model Convention or another model?
2015-12-08 20:00
The International Comparative Legal Guide to: Corporate Tax 2016 Edition is now live on this site at http://www.iclg.co.uk/practice-areas/corporate-tax/corporate-tax-2016. Attorneys at law of Juridicon Ingrida Steponaviciene and Laimonas Marcinkevicius contributed to this edition. This article appeared in the 2016 edition of The International Comparative Legal Guide to: Corporate Tax; published by Global Legal Group Ltd, London. The website is FREE to access for all and we hope you find the site an informative and useful resource for your next year tax planning!
2015-11-30 16:45
Many countries all over the world will start apply Standard on Automatic Exchange of Information in Tax Matters since 2017. It should be noted too, that at the moment of automatic exchange of information will be transferred data about financial account, including balances, interest, dividends, and sales proceeds from financial assets, reported to governments by financial institutions and covering accounts held by individuals and entities, including trusts and foundations. The UK government has issued regulations allowing it to automatically exchange bank account information with other jurisdictions under its various international agreements in one act -International Tax Compliance Regulations 2015. Swiss said banks are working on the practical implementation of the Common Reporting Standard through large-scale projects. Legal basis need to be put in place for Swiss banks to exchange tax-relevant information and in this regard, the Swiss Federal Council has submitted the dispatch for implementing AEOI framework to the Parliament in June. You can also read full article in Lithuanian here.
2015-10-28 18:00
Š.m. rugsėjo - spalio mėn. JURIDICON ilgalaikio bendradarbiavimo su Barselonos advokatų kontorora Bufete Mañá-Krier-Elvira, Barcelona (Barcelona) dėka, šioje kontoroje stažavosi JURIDICON advokatė. Stažuotės metu advokatė įgijo naujų žinių ir patirties, kuri, tikėtina, bus naudinga teikiant teisines paslaugas JURIDICON klientams. Kartu su advokatų kontora Bufete Mañá-Krier-Elvira, Barcelona (Barcelona) JURIDICON jau daugiau kaip penkeri metai yra tarptautinio advokatų kontorų tinklo Warwick Legal Network (WLN) nariai. Kompetentingų Warwick Legal Network (WLN) priklausančių advokatų kontorų konsultacijos suteikia neįkainojamą pranašumą, kai prireikia pagalbos ruošiantis ir sėkmingai teikiant vienos valstybės sienas kertančias teisines paslaugas bei įgyvendinant tarptautinius verslo projektus.
2015-09-30 13:00
Central Bank of the Republic of Lithuania has fined one of the country's top financial service providers for charging "unreasonably high fees" and violating EU rules on cross - border action of its kind. Laimonas Marcinkevicius, managing partner of Juridicon Law Firm commented regarding this situation to PaymentsCompliance, London-based global payments industry publication.
2015-09-15 15:30
The Article 2.87 part 7 of Lithuanian Civil Code provides that member of the Board who fails to comply his obligations to the company required by Civil Code or instruments of company‘s incorporation should completely compensate the damages made for legal entity if legal acts or instruments of company‘s incorporation do not provide otherwise. In the article are discussed whether nominee director who made damages for the company because he made decisions in accordance to his appointing shareholders (controling company, beneficial owner, etc.) should be legaly liable for these damages.
2015-09-09 10:15
The bankrupt Ūkio Bankas under liquidation sold the loan portfolio of Russian and Lithuanian enterprises with the nominal value of EUR 54.8 million to the Russian company “Platfroma-Finance.” According to the administrator in the bankruptcy proceedings, the creditors' committee of Ūkio Bankas fixed a minimum price equal to EUR 5 million, but “Platforma-Finance” has offered a much higher price which is kept confidential as requested by the buyer. “Platforma-Finance” acquired the claims of EUR 39.7 million of a nominal value against the Russian company “Russkij Karavaj,” which owns 21.5 thous. sq. meters of the commercial building in the centre of Moscow, as well as a claim amounting to EUR 15.1 million against the Lithuanian company “Turto Valdymo Strategija”, which holds 99.04 percent of “Russkiy Karavaj” shares. The two latter companies were put into insolvency proceedings. The Russian company “Platforma-Finance,” which took over the claims with the nominal value of EUR 39.7 million from Ūkio Bankas under liquidation, was represented by Juridicon lawyers. They prepared and agreed with the counterparty's lawyers necessary documentation, a legal review of completed cases, and rendered other related legal services.
2015-09-01 14:45
Uber provides taxi services which passengers can order by using the app in their phones. The drivers of Uber taxi working according to Licencing Agreements which determine the relations between drivers and company, and in this Agreements drivers are called 'independent contractors'.[1]This occasion also influences that persons often do not have financial security such as, medical care insurance or minimum salary even labour relations between him and the company actually exist.[2] Also, in accordance with the status of natural person who performs such activities differ the rules for tax counting and paying.
2015-09-01 12:45
Juridicon, notes that 2 of 10 employees in United States are incorrectly classified as independent contractors. In such case, employer would not have to pay compensations, social insurance taxes, income tax and on the whole he suffers 20 percent lower costs. Statistics are showing that in US where Uber business are widely developed, the government budget lost around USD 3,2 milliard of income tax. Business which avoids labor relations usually suffers much more lower costs both in Lithuania and in foreign countries.
2015-08-19 12:15
Managing partner of Law Firm Juridicon attorney at law Laimonas Marcinkevičius says that since the time of establishement Juridicon are providing legal services, tax consultations and companies' management services in different jurisdictions. Consequently, in accordance with taxation requirements of foreign jurisdiction, client needs estimation of risks for provision of his services and legal requirements where would be covered such questions as permanent residence, the necessity to register a permanent residence, the selection of the legal form and so on. If registration of permanent residence is compulsory and client decides to register it, he needs professional support during registration and providing corresponding declarations.

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