Lithuania Tax Agency Issues Notice on Individual, Corporate Income Tax Amendments Concerning Eminent Domain

The Lithuanian State Tax Inspectorate May 4 issued Notice No. R-1267, on recent individual income and corporate income tax amendments concerning property taken by eminent domain or sold to the government. The notice includes that: 1) Law No. XV-838/2026 amends the Law on Individual Income Tax to exempt all legally recoverable amounts when land or property is taken by eminent domain, and exempts income received on or after May 1 from sales of land or other property to the government for special national defense projects; and 2) Law No. XV-839/2026 amends the Law on Corporate Income Tax to add these ...