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Lithuania Tax Updates 2011There are some significant changes in the 2011 legislation. Capital gain from the sale of immovable property bought after 1.1.2011 and held at least for five years before the sale is tax exempt. The application of the reduced 9% V.A.T. rate for books was extended without limit . A new reduced 9% V.A.T. rate was introduced in 2011 for hotel accommodation, being effective till 31.12.2011. Lithuania New V.A.T. RateFrom September 1, 2009 the standard V.A.T. rate in Lithuania increased to 21%, compared to the previous 19% rate. Lithuania Tax Rates 2009From 1.1.2009 there are some significant tax changes compared to 2008. The Lithuanian corporate tax rate in 2009 is 20%, compared to 15% in 2008. The personal income tax rate is 15%, except for dividend income which is taxed at 20%. Many tax exemptions for individuals have been cancelled or reduced. The standard VAT rate in 2009 is 19%, compared to the previous 18% rate. The previous reduced VAT rates of 9% and 5% are abolished. Lithuania Tax Rates 2008In 2008 the flat tax rate for labor income of individuals is 24%, compared to 27% in 2007. The corporate tax rate is 15%. The standard VAT rate in Lithuania is 18%. there are also reduced VAT rates of 9% and 5%. Lithuania Income Tax 2006Lithuania Double Taxation 2006From 1.1.2006 Lithuania has two new double taxation treaties. The new treaties are with Austria and Luxemburg. |
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