Therefore, we would like to remind that Financial Statements shall be:
  • prepared and confirmed by the General Meeting of Shareholders in 4 months after the end of the financial years; 
  • submitted to the Register of Legal Entities in 30 days after the confirmation of the General Meeting of Shareholders. 

When the financial year is identical to a calendar year the Company shall submit the Financial Statements to the Register of Legal Entities till 31 May.

We would like to notify that an obligation to submit the Financial Statements is set for the General Manager or other persons indicated in the legal acts or establishment documents. If these obligations are not fulfilled, the consequences established by legal acts arise:
  • the fine in the amount from EUR 200 to EUR 3 000 may be applied (Article 223 Paragraph 2 of the Code of Administrative Offences);
  • the General Manager shall compensate all the damage suffered by the Company and (or) other persons (Article 28 of the Law on Financial accountability of the Companies of the Republic of Lithuania). This provision is applicable to the preparation of the Company’s Management Reports of the accounting period starting on 1 January 2017 or later.