Law No. VIII-935 “On small and medium business development”. Pays/Territoire Lituanie Type du document Législation Date 2017 Source FAO, FAOLEX Sujet Général Mot clé Commerce/industrie/sociétés Transformation/manutention Enregistrement Taxe/impôt Subvention/incitation Aire géographique Europe, Europe et Asie Centrale, Pays de l'Union Européenne, Europe du Nord Entry into force notes This Law enters into force on 1 May 2017. Résumé This Law establishes the concept of small and medium business entities, state support forms applicable to Lithuanian small and medium-sized business entities, defines the status and functions of the business council. It sets forth prerequisites for the development of entrepreneurship of small and medium-sized businesses. The provisions of this Law regulating the status of small and medium-sized business entities, are applied to the extent that they do not conflict with the European Union legal acts, in relation to state aid and de minimis aid for small and medium-sized businesses. This Law is harmonized with the legal act of the European Union specified in the annex to this Law. Economic activity shall be intended the regular activity of a person developed at his own risk for the purpose of profit or in the case of individual activity - income, which includes the purchase or sale of goods, the production of goods, performance of work or provision of services to other persons for remuneration. Company shall be intended a legal person performing economic activity. Entrepreneurship shall be intended a person's competence to implement additional economic or social value-creating ideas and a person's economic, social and creative activity in the field of business. A medium-sized company is a company with less than 250 employees and whose financial the data meets at least one of the following conditions: (a) the company's annual income does not exceed 50 million euros; (b) the value of assets specified in the company's balance sheet does not exceed 43 million euros. Small company - a company with less than 50 employees and whose financial data meets at least one of the following conditions: (a) the company's annual income does not exceed 10 million euros; (b) the value of assets specified in the company's balance sheet does not exceed 10 million euros. Very small company is a company with less than 10 employees and which financial data meet at least one of the following conditions: (a) the company's annual income does not exceed 2 million euros; and (b) the value of assets specified in the company's balance sheet does not exceed 2 million euros. Companies can declare that they are medium, small or very small companies at the moment of registration in the Register of Legal Entities. Forms of state support for small and medium-sized business entities shall be as follows: (a) tax, fee concessions; (b) financial support measures; (c) provision of administrative services for small and medium-sized businesses; and (d) provision of public services for small and medium-sized businesses in business information centers, business incubators, science and technology parks and other legal entities for legal persons whose constituent documents stipulate the provision of these services. Section I lays down general provisions. Section II defines the concept of small and medium business entities. Section III lists applicable state support measures for small and medium business entities. Section IV regulates the functioning of the Lithuanian Council of Small and Medium Businesses. Texte intégral Lituanien Site web e-seimas.lrs.lt