OREANDA-NEWS. From 1 June 2011, implementing a new Tax Accounting Information System (MAIS), the State Tax Inspectorate (STI) compresses a list of codes for taxes, duties and other payments to the State budget of the Republic of Lithuania, municipal budgets and State monetary funds. Therefore, from 1 June a new list of payment codes becomes effective in which the number of payment codes decreases from 1,500 to 100, reported the press-centre of Ukio Bankas.

 Those administered by VMI and declaring taxes will use a single payment code – 1001 (separate payment codes will be further used for personal income tax, mandatory health insurance contributions and land tax).

More information about the novelties relating to the new Tax Accounting Information System is available on VMI website www.vmi.lt, under heading Tax Accounting Information System (MAIS).