Corporate Income Tax Base: Rules of Income and Expenses in the Republic of Lithuania and their Relationship with Financial Accounting

CORPORATE INCOME TAX BASE:
RULES OF INCOME AND EXPENSES
IN THE REPUBLIC OF LITHUANIA
AND THEIR RELATIONSHIP
WITH FINANCIAL ACCOUNTING

MARTYNAS ENDRIJAITIS
PhD student, Vilnius University Law Faculty

The article deals with the corporate income tax base and rules of income and expenses. The analysis of rules of income and expenses is based on the systemic review of the Republic of Lithuania Law on corporate income tax, Business accounting standards and Tax dispute settlement institutions case law. The article maintains that, despite the fact that the same Generally Accepted Accounting Principles are used for taxation and financial accounting purposes, not all rules of income and expenses are the same in financial accounting and taxation.