Lithuania Tax Exempt IncomeSome forms of income in Lithuania are tax-exempt as follows:
- Proceeds from the sale of a residential apartment held for at least two years.
- Sale of real estate used for individual activities held for at least 5 years, subject to terms.
- Sale of shares held for more than one year, subject to terms.
- Annual employment income of up to EU 4,200 is tax exempt.
There is no exemption if annual income exceeds EU 31,990.
- 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.
Lithuania Tax Relief
- In Lithuania, all forms of tax relief are applicable to an individual, subject to the definitions in the Lithuanian law.
- 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.
Note: The information in this site is for general guidance only. Users of this site are advised to take professional advice before taking practical tax decisions.
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