On 25 June 2015, the Lithuanian parliament adopted several amendments to the country's Law on Tax Administration. The amendments are focused primarily on individual financial reporting requirements, but also include a number of new requirements for legal entities. Under the new rules, legal entities must annually report:
- Any money received from individual members if the amount is equal to or exceeds EUR 15,000;
- Any liabilities to or of individuals if related to business activities and the am…