Which expenses cannot be deducted/are not classified as allowable deductions from the income of companies

For the purposes of calculating taxable profits, the following expenses cannot be deducted from income, i.e. are classified as non-allowable deductions: expenses not linked to generating income or other economic benefit and not incidental to the ordinary activities of the company; the value added tax payable to the budget; penalties, fines, interest on arrears and other sanctions; compensation for damage caused; expenses attributable to the tax-exempt amount of income. For more detailed information, please see here (only in Lithuanian).