Taxes in Lithuania

The Republic of Lithuania has a business-friendly tax policy and the tax system is aligned with EU legislation. The Lithuanian tax system has changed dramatically since 1990 to support foreign investment and the development of the labour market.

Taxes and other dues shall be charged to the budget on the order of the Supreme Council; however, regional and city councils deal with tax issues separately. In Lithuania, the basic principles of tax payment and their regulation are governed by the Law on Tax Administration, which defines the rights and obligations of the tax administrator and the taxpayer, as well as the procedure of tax calculation and the amounts to be collected.

Corporate income tax
Corporate income taxpayers are businesses that carry on business and are also taxed by non-profit organizations that make a profit from their commercial activities.

Personal income tax
The gradual reduction of personal income tax was started in 2006. Nowadays, every natural person is obliged to pay a personal income tax of 15% if he is employed or self-employed.

Real Estate tax
The real estate tax in Lithuania ranges from 0.3% to 3%. Private real estate is generally taxed at 1% of the value of the property above € 220,000. This threshold is raised to € 286,000 for families with three or more minor children (under 18 years) or children with disabilities requiring special care

Value Added Tax (VAT)
VAT is not calculated and paid to persons whose income from the sale of goods and provision of services (excluding long-term investment) is of public interest, such as food, postal services, etc.

Land tax
In Lithuania, land tax covers only land taxes, and the rules for calculating and paying this tax are set by city and district councils. Land subject to land tax is privately owned, with an annual rate ranging from 0.01% to 4% of the value of the land.

Business in Latvia: Discovery #1 A place of useful list of websites related to Latvia and it's institutions.

Business in Latvia: Discovery #1

A place of useful list of websites related to Latvia and it's institutions.

Baltic Legal Resources - a page with useful links in which you can find information on following institutions:

• Finances - Official financial institutions of Latvia and their respective websites.
• The Bank of Latvia
• Ministry of Finance of The Republic of Latvia
• Ministry of Economics of Republic of Latvia
• State Revenue Service
• Commercial - Commercial type of websites and official institutions of Latvia.
• The Register of Enterprises of the Republic of Latvia
• State institutions - Official state institutions of the Republic of Latvia.
• Office of Citizenship and Migration Affairs
• Head of State - Head of state also known as "The President".
•  President of Latvia
• Rights protection - Institutions and their websites related to protection of rights.
• Consumer Rights Protection Centre
• Informational - Informational institutions and their websites in Latvia.
• Central Statistical Bureau
• Website of Latvian history
• Tourism - Institutions and their websites related to tourism in Latvia.
• Riga Tourism Development Bureau
• Vietas (places) - Guide of Latvia

Latvia and Estonia agree on joint position on EU budget - review of news in Latvia

Latvia and Estonia agree on joint position on EU budget - (reviewed)

On November 09, 2012 Baltic Times wrote:

RIGA - At a meeting in Estonia yesterday, Latvian President Andris Berzins and Estonian President Toomas Hendrik Ilves were of the same opinion on all the key matters that dealt with the European Union's multiannual budget

What actually are these "matters"? And how Baltic States sees them self in European Union?

Types of temporal residency in Latvia

Types of temporal residency in Latvia

This is compilation of the types (or ways) you can gain residence permission to live in Latvia - A Schengen area member. Click READ MORE to know how to get in Schengen!

5 TOP of Autumn - Articles that did not succeed to enter in chart of top 5 business articles

Articles that did not succeed to enter in chart of top 5 business articles

If you red article about 5 top articles in business of autumn then you noticed there are mentioned only five articles, because it is TOP 5! [mister obvious?]

5 TOP of Autumn - Business in Latvia blog best articles

Business blog about doing business in Latvia

From all of our articles about doing business in Latvia we have gathered a compilation of the best articles of all times succeeded in matter of post views.

To remind:

Business in Latvia blog provides news and reviews of business in Latvia.

The TOP 5 writings

1st place - Alcohol license

The best of all times probably was article about alcohol selling license in Latvia.
Article on alcohol was not so extensive nor provided much of a information, but it succeed most from all.

This is good to know if you wish to open alcohol selling branch in Latvia.

 Click Alcohol license to read this article.

Baltic states business: Lithuania attempts to depart from Russian energy market

Lithuania attempts to depart from Russian energy market

The Baltic state imports nearly all its natural gas - about 3 billion cubic meters per year - from Russia. In order to diversify away from Russian energy, Lithuania has been building up a domestic liquefied natural gas terminal and developing its nuclear industry. Such project requires significant investment which is refundable in future as a long term project.

Lithuanian tourism sector expects economical growth

Lithuanian tourism sector expects economical growth

Qualitative service for reasonable price is always important especially in tourism sector. If New York and London hotel prices, at 233 and 217 euros on average, respectively, according to a trendy hotel booking site, are just too high for you, then it is high time to pack up for your trip to Vilnius which, according to the same survey, boasts hotel prices at the lower end, from 60 to 70 euros a night on average.