In this page: Accounting Rules | Tax Rates | Intellectual Property | Legal Framework | Standards | Business Practices
VAT-exempt goods and services include: health care services and goods; real estate rent and disposals; insurance and reinsurance services; certain financial services; cultural and sporting activities; educational services; betting and gaming services; universal postal services; social and related services; radio and television services.
Learn more about Service Providers in Lithuania on Globaltrade.net, the Directory for International Trade Service Providers.
Lithuania | Eastern Europe & Central Asia | United States | Germany | |
---|---|---|---|---|
Number of Payments of Taxes per Year | 10.0 | 13.9 | 10.6 | 9.0 |
Time Taken For Administrative Formalities (Hours) | 95.0 | 226.2 | 175.0 | 218.0 |
Total Share of Taxes (% of Profit) | 42.6 | 36.5 | 36.6 | 48.8 |
Source: Doing Business - Latest available data.
Income tax (employment income up to EUR 81,162 in 2021 - 60 average salaries) | 20% |
Income above EUR 81,162 | 32% |
Income from royalties, interest, sale of property | 15% (20% if the amount exceeds EUR 162,324 for 2021 - 120 average salaries) |
A monthly tax-exempt amount (TEA) applies to employment-related income of Lithuanian tax residents, equal to EUR 400/month for incomes up to EUR 642 (minimum monthly salary for 2021) or reduced progressively for incomes above that amount, up to an income limit of EUR 2,864.22.
Allowances are given for each child (EUR 70, EUR 111 for children with disabilities, large or low-income families).
Business expenses of self-employed individuals are deductible (taxpayers can opt for a lump-sum deduction of 30% or for itemized deductions supported by the relevant documentation).
Learn more about Taxes and Accounting in Lithuania on Globaltrade.net, the Directory for International Trade Service Providers.
Type of property and law | Validity | International Agreements Signed |
---|---|---|
Patent Patent Law, 1994, last amended in 2001 |
20 years |
Patent Cooperation Treaty (PCT) |
Trademark Law on Trademark, 2000, last amended in 2004 |
Ten years from the date of application, renewable. |
Trademark Law Treaty Protocol Relating to the Madrid Agreement Concerning the International Registration of Marks |
Design Industrial Designs Law, 2002, last amended in 2004 |
Five years, renewable four times, for five-year periods up to 25 years | |
Copyright Law on Copyright and Related Rights, 1999, last amended in 2003 |
During the life of the author and 70 years after his or her death. Recognition of a copyright and its legal protection in Lithuania is not subject to any local registration requirement. |
Berne convention For the Protection of Literary and Artistic Works Convention for the Protection of Producers of Phonograms Against Unauthorized Duplication of Their Phonograms Rome ConventionFor the Protection of Performers, Producers of Phonograms and Broadcasting Organizations WIPO Copyright Treaty WIPO Performances and Phonograms Treaty |
Industrial Models Industrial Designs Law, 2002, last amended in 2004 |
Five years, renewable four times, for five-year periods up to 25 years |
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New Year's Day | 1 January |
Independence Day (1918) | 16 February |
Restoration of Independence (1990) | 11 March |
Easter | Sunday and the following Monday |
Labor Day | 1 May |
Mother's Day | First Sunday in May |
Midsummer Festival | 24 June |
Coronation of Mindaugas, King of Lithuania | 6 July |
Assumption Day | 15 August |
All Saints' Day | 1 November |
Christmas | 25 and 26 December |
Christmas break | One week between Christmas and New Year (not compulsory) |
Midsummer break | Three days to one week around midsummer (in June) |
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Latest Update: April 2022