What is i.MAS and what is it used for?

Businesses operating in Lithuania have to use several VMI systems and submit different types of tax and accounting data. One of the terms they regularly encounter is i.MAS. But what does it mean, and what kind of information must businesses provide?

i.MAS is the Smart Tax Administration System created by the Lithuanian State Tax Inspectorate, known as the VMI. It moves the collection and submission of transaction data into a digital environment, helping to reduce administrative work and improve tax administration.

In simple terms, i.MAS is not a single report or tax return. It is a broader system consisting of several subsystems, each designed for a different purpose.

Which subsystems are part of i.MAS?

The following i.MAS subsystems are particularly relevant to businesses:

i.SAF for invoice data

i.SAF is the electronic invoice subsystem used to submit data from registers of issued and received VAT invoices.

Legal entities subject to this obligation generally submit i.SAF data for each calendar month by the 20th day of the following month. You can learn more about invoice registers, deadlines and common reporting errors in our article “What is i.SAF?”.

i.VAZ for consignment note data

i.VAZ is the electronic consignment note subsystem. It is used to submit data from consignment notes and other documents related to goods transported by road within Lithuania.

Whether information must be submitted to i.VAZ depends on the circumstances of the shipment and the parties involved in the transaction.

i.APS for small business accounting

i.APS is a remote accounting service designed for small businesses. It allows individuals carrying out independent economic activities to record their income, expenses and other relevant business information electronically.

Other i.MAS subsystems

i.MAS also includes several systems created for more specific purposes:

• i.SAF-T for collecting and processing standardised accounting data;
• i.ŽUR for marketplace accounting;
• i.EKA for data from smart electronic cash registers.

The current list of subsystems and official information about their functions is available on the VMI i.MAS website.

Why is i.MAS important for businesses?

i.MAS standardises the accounting and transaction data submitted by businesses. This enables the VMI to process information more efficiently, identify potential discrepancies and reduce the amount of documentation handled manually.

For businesses, this makes it especially important to:

• record invoices and other documents on time;
• use correct company and VAT identification numbers;
• assign the appropriate VAT classes;
• submit data in the required format;
• follow the deadlines that apply to each subsystem.

Incorrect information in the original accounting documents can result in errors in the files submitted through i.MAS. Data quality should therefore be checked before reports are prepared.

How can accounting software make reporting easier?

When invoices are stored in different files or report data is collected manually, preparing information for tax authorities takes more time and creates a greater risk of mistakes.

With SimplBooks accounting software, sales invoices, purchase invoices, business partner details and VAT information are managed in one system. When documents have been recorded correctly, businesses can prepare an i.SAF file and upload it to the VMI system without entering every invoice for a second time.

SimplBooks can also be used to prepare VAT and financial reports and to monitor sales, purchases and payments. More information about the available reports can be found on the Reports and reporting page.

What should you remember about i.MAS?

i.MAS is the VMI’s broader electronic tax administration system, consisting of several different subsystems. For many businesses, i.SAF is the most frequently used part, while companies that trade in goods or arrange their transportation may also need to use i.VAZ.

Efficient reporting does not begin on the day a report is due. It begins with accurate and consistent daily accounting. When all relevant information is managed in one place, meeting i.MAS requirements becomes simpler, faster and more reliable.

Would you like an easier way to manage your company’s accounting? You can try SimplBooks free for 30 days. Visit the pricing and plans page to learn more.