Lithuania » Taxes

Income Tax	VAT	Corporate Tax	Immovable Property Tax

Income Tax

Lithuania individual's entire income is taxable at different rates. As of 2006 the tax rates for an individual in Lithuania are 15% and 33%. From 1.7.2006 the top tax rate would be reduced to 27%, and from 1.1.2008 to 24%. A foreign resident pays tax only on his income in Lithuania.

VAT

In most cases VAT in Lithuania is 18%. VAT is charged on assets and services provided in Lithuania as well as on imports into Lithuania. Exports from Lithuania are not subject to value added tax.

Corporate Tax

The standard corporate tax rate in Lithuania is 15%, 13% for small corporations.

Immovable Property Tax

Lithuania companies and individuals, when using assets for economic activities, pay 1% annual tax.