Lithuania Parliament Considers Bill to Amend Individual Income Tax Law

The Lithuanian Parliament (Seimas) April 16 accepted for consideration Bill No. 25-6745, to amend the Individual Income Tax Law. The bill includes measures to: 1) specify the individual income tax calculations for residents, with tax rates ranging from 20 percent to 36 percent; 2) specify that a flat-rate income tax may be levied on individual income not exceeding 45,000 euros (US$51,782) per year; 3) explain that income from renting immovable property that exceeds 45,000 euros per year must be included in annual income; and 4) impose a 15 percent income tax rate on income from distributed profits, and a 20 ...