| Abstract [eng] |
The subject of research is application of financial accounting standards in the Republic of Lithuania when imposing tax on corporate profit of legal entities in accordance with the current Law on Corporate Income Tax of the Republic of Lithuania (with amendments and additions, hereinafter the “LoCIT”) and revealing expedient changes in the current LoCIT. Attention should be paid that by this research it is sought not only to present the theoretical overview of relation between the LoCIT and financial accounting legal regulation, but also to analyse this problem thoroughly on the basis of practical examples, not avoiding also specific proposals regarding solutions to problems of evaluation methods of business facts fixated in financial accounting, still to the extent which is relevant and necessary to assure proper fulfilment of tax obligation. |
