Taxes in Lithuania
|An aspect of fiscal policy|
Taxes in Lithuania is levied by the federal and the local governments. Tax revenue in Lithuania stood at 28.5% of GDP in 2013, one of the lowest in Europe. Most important revenue sources, include the income tax, social security, corporate tax and value added tax, which are all applied on the federal level.
Income Taxes are levied at a flat rate of 15% and a separate health insurance contribution at 6%. Social Security Contributions are levied at 3% for the employee and 31% for the employer. Corporate tax rate is 15% as standard rate, with a lower small business rate of 5%. The Value added tax rate apply at 21% for most goods and services. Additional taxes are tax on dividends (0–15% – dividends paid or received are not taxed when an investor controls at least 10% of voting shares in the enterprise for the period of at least 12 months), real estate tax (0.3–1.0%) and a land tax of 1.5% on businesses.
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