Lithuania has approved a new incentive for large investment projects in any area of Lithuania. The incentive provides a corporate income tax exemption for up to 20 years for resident and non-resident entities making qualifying investments, provided that the following conditions are met:
Further, the investing entity must sign a contract with the Lithuanian government that grants the investment project the status of "national significance", which provides expedited and simplified procedures for the project.
The incentive is effective from 1 January 2021.
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