aA
The Lithuanian Finance Ministry is initiating a discussion on a solidarity tax on high earners.
Pinigai
Pinigai
© Shutterstock

It would apply to all income totalling more than 150 average wages per year, or around 200,000 euros.

Deputy Finance Minister Ruta Bilkstyte, the head of a task group for a review of tax incentives, said that the rate of such a levy could be set at 3 percent.

"The tax would apply to all income, including income from employment, individual activity, other income, interest or sale of property," she said.

The idea is aimed at helping economic recovery and making those on high income pay a higher solidarity contribution, according to the vice-minister.

Currently, employment income of up to 60 average wages is taxed at 20 percent and income above 60 average wages at 32 percent. Dividends and income from an individual activity are subject to a 15 percent tax rate, as is other income of up to 120 average wages. Other income above 120 average wages is taxed at 20 percent.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.

Belaruskali cargo to go via Lithuania until January

Lietuvos Gelezinkeliai (Lithuanian Railways, LG), the country's state-owned railway company, will...

Norwegian IT company bags EUR 5 mln contract for surveillance system on border with Belarus

Atea, a Norwegian-owned IT company, has won a contract worth 5.05 million euros to install a video...

Experts say it's time to change the energy performance certification system for buildings

For more than a decade, the European Union (EU) has been requiring to provide energy performance...

President: part of green tax revenue could return to society

The Lithuanian government's proposed tax changes, such as a new annual car pollution tax, should...

Gas prices for households to rise 27-36 pct from January

Natural gas prices for Lithuanian households are set to rise by 27-36 percent from January, depending...

Top news

PM sees no way for Belarusian fertilizer transit to continue for long time

Lithuanian Prime Minister Ingrida Simonyte says the transit via Lithuania of products made by...

Lithuania distributes quarter of humanitarian packages for migrants

Lithuania has distributed around a quarter of humanitarian packages prepared for migrants and does not...

1 982 new COVID-19 cases

On Tuesday, 1 982 new COVID-19 cases were detected in Lithuania. Since the beginning of the pandemic,...

Belaruskali cargo to go via Lithuania until January

Lietuvos Gelezinkeliai (Lithuanian Railways, LG), the country's state-owned railway company, will...

Lithuania extends state of emergency on border with Belarus

The Lithuanian parliament on Tuesday extended the existing state of emergency on the border with...