As of 1 August 2026, the Lithuanian tax authority announced amendments to the Property Declaration Law, introducing stricter reporting obligations for real estate owners, reducing the filing deadline to 30 November 2026, and expanding the scope of taxable assets to include newly defined digital holdings. The changes aim to improve transparency and combat tax evasion. Key provisions include mandatory electronic submission of declarations through the VMI portal, increased penalties for late or inaccurate filings, and the introduction of a standardized valuation method for inherited properties. The amendment also clarifies the treatment of jointly owned properties, requiring each co‑owner to submit an individual declaration. Business impact includes the need for updated accounting systems, potential additional administrative costs, and the necessity to train staff on new reporting procedures. The authority will provide guidance documents and webinars to support compliance, and small enterprises may qualify for a temporary relief period until 31 March 2027, during which the filing deadline will be extended by two months.
Key Takeaways
- Filing Deadline: Reduced to 30 November 2026 for the 2026 tax year.
- Electronic Submission: Required via the VMI online portal, with mandatory digital signatures.
- Penalties & Relief: Higher fines for non‑compliance, but a temporary two‑month extension available for SMEs.
Source: Read Original Announcement