Exemption from tax on the sale of immovable property
Exemption from tax on the sale of immovable property
Income from the sale of immovable property (e.g. an apartment, a house, a plot of land) is exempt from tax under the following circumstances:
- the ownership of the immovable property has been held for at least 10 years (please see here (only in Lithuanian) on how to calculate the property retention period); or
- you have declared your residence in the apartment or house sold for at least 2 years before the sale; or
- you have declared your residence in the apartment or house sold for less than 2 years, but within one year you bought another property, and declared your residence there.
For more detailed information, please see here (only in Lithuanian).