Records and tax returns
Class B income of an MB member is reported in the member's personal return GPM311; for 2026 income, the Lithuanian Tax Inspectorate (VMI) specifies a deadline of 3 May 2027. The MB reports payments on GPM312 by 15 February 2027. The member's PIT and the MB's social insurance obligations are not reported on one and the same return. [S4]
Before paying a participant, prepare documents appropriate to the legal basis: a profit-distribution resolution, a service contract and evidence of performance, employment documents, or genuine financing or asset-transfer agreements. A bank-transfer reference alone does not replace this evidence.
Deductible expenses for corporate income tax purposes must be assessed separately from the recipient's PIT. In particular, code-02 withdrawals by MB members and IĮ owners must not automatically be treated in full as company expenses. A detailed deductibility model is not provided here because it requires a separate review of the current interpretation of Article 17 of the Corporate Income Tax Law.
Information prepared on 14 October 2026. General guidance, not individual tax advice. Verify eligibility and rates for each case.