Frequently asked questions about the Small business account

A small business account is a special bank account intended only for Lithuanian residents who are engaged in or plan to engage in self-employed activities under a self-employment certificate. We developed it together with the State Tax Inspectorate (STI).

This solution automates one of the most complex parts of self-employed activity – recording income and filing tax returns.

With a small business account, you can easily separate your business and personal funds and see all your income in one place. This system will allow you to manage your operating income more conveniently, ensure greater clarity and data accuracy, and reduce your administrative burden.

Once the bank has transferred the data on receipts to the small business account to the STI, this information will automatically appear in the preliminary income tax return (in the “Income from self-employed activities” section of the STI’s Tax Return Wizard).

This means that:

• you won’t need to manually enter the income received in this account. You will only need to enter income that was received in cash and not deposited into this account, or operating funds received into other accounts.
• the STI will be able to submit more accurate preliminary tax returns based on actual data received from the bank.
• the likelihood of errors will be reduced.
• the data will be transferred automatically, without manual entry. All you have to do is check the information provided and, if it is correct, confirm it.
• you will only need to enter the expense data yourself.

It is not mandatory to have this account. Its opening and data provision are carried out only with your consent.

A small business account cannot be opened by residents who are self-employed with a business licence, engaged in agricultural activities, or lawyers (their assistants), bailiffs and notaries. This account can’t be opened for legal entities.

You can open a small business account at Artea Bank online or at your nearest bank branch.

The STI will receive information about your newly opened account. If you have not yet engaged in self-employed activity, the STI will contact you, initiate its registration and request additional information: the location of the planned activity, its code and contact details.

If you are already operating and have a self-employment certificate, no further action is required.

If you have an account with Artea Bankas, you need to submit a request by logging into your online bank account.

In this case, contact Artea Bank, close your small business account and terminate your self-employed activity with the STI in the usual manner.

Data on income received by residents who have a small business account are transferred to the STI once a month or once a year. Artea Bankas will only transfer your data if you have given your explicit consent.

Both Artea Bankas and the STI strictly comply with the requirements of the General Data Protection Regulation (GDPR). Data are transmitted via secure channels through the TIES system, and access to them is granted only on the grounds specified in legislation.

The agreement will also clearly define when data will not be provided – for example, if you withdraw your consent, your account becomes inactive, or you close it.

If you withdraw your consent for the transfer of data to the STI, this account will be closed, as in this case it loses its main advantage – the transfer of information about your business income for the purpose of preparing preliminary income tax returns.

Yes. After receiving the data and after the resident submits their income tax return, the STI will transfer the data to the State Social Insurance Fund Board (Sodra). This will allow for a more accurate calculation of social insurance contributions.

Yes. Income from self-employed activities received in cash can be deposited into this account.

Yes. Since not all income from self-employed activities was received into the small business account, the STI will only receive partial data from the bank. Therefore, you will need to correct the amount of income from self-employed activities indicated in your tax return.

Before filing your final income tax return (form GPM311), check the amount of income from self-employed activities indicated. If it does not correspond to the amount of income actually received, it will need to be corrected.

A small business account can be used with or without a selected service plan.

If the account is used in conjunction with one of the bank’s service plans, an additional monthly small business account servicing fee of EUR 1.50 applies.

If no service plan is selected, a monthly fee of EUR 2.99 applies to this account.

With a service plan, daily banking services are subject to fees based on the selected plan.

If you do not have a service plan, standard fees apply.