On Jan. 14, LTH Tax published information notice re tax recalculation.
LTH Tax published information notice regarding the obligation of permanent residents of lithuania to recalculate the annual tax-free income amount and income tax for 2024.
Main Points
The notice explains the cases where it's mandatory to recalculate the 2024 annual tax-free income amount, income tax; the cases where it can be reduced, VAT reclamation.
Electronic tools for the recalculation, application of progressive VAT rates, examples.
Effectiveness
Residents must submit their 2024 tax returns by May 2, 2025.
Regulators
LTH Tax
Entity Types
Auditor; CNSM; Corp
Reference
PR, 1/14/2025; Nt (18.18-31-1 Mr) RM-1328, 1/13/2025
