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All Lithuanian companies are required to submit financial statements for the previous year, which disclose information about earned income, earnings, assets and other important company indicators, to the Records Center by May 31.
For a fee, this information about the company of interest can be viewed later by anyone who wants it: analysts, public authorities, partners, employees or competitors. By the way, this requirement applies not only to companies, but also to associations, public institutions, small communities.
Photo by Sigismund Gedvila / 15min / Records Center
However, not everyone respects this obligation. While more than three months have passed since the reporting deadline, 102.5 thousand have yet to present their 2019 financial statements. Legal persons.
Almost 190 thousand people are required to present financial statements for 2019. legal persons, and so far the Registry Center has received approximately 87.5 thousand. Financial statements. Compared to the corresponding period last year, this is 3 percent. Less “, 15 minutes reported Kazys Maksvytis, Director of Records at the Records Center.
Records Center / Kazys Maksvytis, Records Center Director of Records
It’s not just the number of law-abiding companies and associations that may surprise you. Among the deceased companies are large and well-known Lithuanian companies that generate hundreds of millions of euros in revenue. And even state and municipal companies, which should set an example in the implementation of state requirements.
Then 15 minutes presents the TOP50 of the largest companies in terms of turnover in 2018, which had not yet submitted financial statements to the Records Center as of Friday.
Some of the companies topping the list blamed the ongoing restructuring for the delay, others for misunderstandings or the COVID-19 pandemic, but all the companies interviewed promised to submit financial reports to the Registry Center in the near future.
TOP50 late companies by size
K. Maksvytis emphasizes that the financial statements presented by legal entities each year contribute to the transparency of companies and organizations: partners, customers and even employees can find out how the company is doing.
At the top of the list of the largest companies that did not present financial statements until Friday, September 10, are the state-owned company Lietuvos Geležinkeliai, one of the country’s largest retail chains, Kesko Senukai, and the telecommunications company Telia. Lietuva.
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