Some forms of income in Lithuania are tax-exempt as follows:
Proceeds from the sale of a residential apartment held for at least 5 years.
Compensation received as a result of a decision of a Court in respect of damage to property or to the person.
Prizes received in competitions.
Benefits received from an insurance company.
Revenue received from the heirs of an employee from the place of employment on the death of the employee as well as payments because of natural disasters.
Receipts from National Insurance paid by the State.
A capital gain on the sale of shares in a Lithuanian company. Subject to conditions.
TAX RELIEF
In Lithuania, all forms of tax relief are applicable to an individual, subject to the definitions in the Lithuanian law.
Any employee, whether a Lithuanian or a foreign resident, is entitled to a monthly tax deduction of Euro 84 from his income from a salary.
An employee is entitled to a tax deduction for payment to a pension fund, subject to the fact that the employee's contributions do not exceed 25% of his annual salary.
Interest on housing loans.
Purchase of one personal computer, up to LT 4.000.
