Order No 1K-218 of 8 July 2009 of the Minister of Finance of the Republic of Lithuania Amending the Order No 303 of 25 September 2002 of the Minister of Finance of the Republic of Lithuania on Allowable Deductions from an Individual Activity of a Residents of the Republic of Lithuania and the Approval of Rules of their Calculation (Official Gazette (Valstybės Žinios), No 84-3557.)

      

      The Order presented a new version of Procedures of Allowable Deductions from an Individual Activity of a Resident of the Republic of Lithuania and the Approval of Rules of their Calculation. Also the name of the Procedures was amended to the following: Procedures of Attributing the Costs Related to Individual Activity and Earnings Incurred by a Resident of Lithuania to Allowable Deductions and the Rules of their Calculation. The Procedures were applied in calculating and submitting tax returns on revenue of 2009 and the subsequent tax periods.

      

      The Order came into force on 17 July 2009.

      

       Order No 1K-219 of 8 July 2009 of the Minister of Finance of the Republic of Lithuania Amending the Order No 304 of 25 September 2002 of the Minister of Finance of the Republic of Lithuania on Allowable Deductions from an Individual Activity of a Non-resident of the Republic of Lithuania Received via Fixed Base and the Approval of Rules of their Calculation (Official Gazette (Valstybės Žinios), No 84-3558.)

      

      The Order amended the name of the Procedures: Procedures of Attributing the Costs Related to Individual Activity via Fixed Base and Earnings Incurred by a Non-resident of Lithuania to Deductible Expenses and the Rules of their Calculation.

      

      Amendments are of editorial nature, made in regard to the amendment of the name of these Proceedings and the Proceedings on Deductible Expenses from an Individual Activity of a Resident of the Republic of Lithuania and the Approval of Rules of their Calculation.

      

      The Order also repealed Chapter III: Costs Not Attributed to Allowable Deductions of the Proceedings on Allowable Deductions from an Individual Activity of a Non-resident of the Republic of Lithuania Received via Fixed Base and the Rules of their Calculation.

      

      The Procedures apply to calculating and submitting the income tax returns of 2009 and the succeeding tax periods.

      

      The Order came into force on 17 July 2009.