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Lithuania V.A.T. and Other Taxes

Lithuania Value Added Tax:
  • The standard VAT in Lithuania is 21%. There are also reduced rates of 9% and 5%.
  • 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.
  • In Lithuania the threshold for VAT registration is turnover above TL 155,000 in 12 months.

Lithuania Inheritance Tax:
  • Inheritances are taxable in Lithuania.
  • The tax on an inheritance is applicable when the heir is a Lithuanian resident or when the asset is located in Lithuania.
  • The rate of tax is 5% if the value of the asset is less than LT 500,000. If the value of the asset exceeds that sum, tax is payable at the rate of 10%.
  • There is an exemption from tax if the transfer is made between parents and children, between one spouse and another, as well as inheritances received by a spouse, children, grandchildren, brothers and sisters.
  • When the value of the asset in an inheritance is less than LT 10,000, it is exempt from tax.

Lithuania Immovable Property Tax
  • From 1.1.2012 individuals in Lithuania pay 1% on their immovable property with value exceeding Lt 1 million.
    The immovable properties of parents and children under 18 are treated as one unit for tax purpose.

Lithuania Capital Acquisition Tax
  • The 15% tax rate is imposed on individuals on gifts valued above LT 8,000.
  • The tax is not imposed on gifts from close relatives .

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