Obligation to declare income from the sale of movable property subject to registration

If the movable property sold is registered in a country of the European Economic Area (including the Republic of Lithuania), and has been held in ownership for at least 3 years, then there is no obligation to declare income received from the sale of such property.

In all other cases, income received from the sale of movable property subject to registration must be declared at the end of the year, by 1 May of the following year.