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 EU 150,000.
  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 EU 3,000, it is exempt from tax.

Lithuania Immovable Property Tax

• Primary residential real estate valued less than EU 450,000 is tax exempt, For real estate above the ceiling the tax rates are 0.1% to 1%.
• The tax rates for non primary real estate are 0% to 1% depending on the value.
• The immovable properties of parents and children under 18 are treated as one unit for tax purpose.
• Commercial real estate in Lithuania is taxed at rates of 0.5% to 3%.

Lithuania Gift Acquisition Tax

• The 15% tax rate is imposed on individuals on gifts valued above EU 2,500.
• The tax is not imposed on gifts from close relatives .