When the income tax payable must be recalculated under progressive income tax rates and when additional income tax must be paid
When the income tax payable must be recalculated under progressive income tax rates and when additional income tax must be paid
You must recalculate and pay additional income tax in the following cases:
- if you received taxable wage income in Lithuania and/or received profit shares and remuneration for activity in the Management Board, Supervisory Board or loan committee from Lithuanian companies, where the total amount thereof exceeded the amount of 60 average national wages per year (hereinafter referred to as “ANW”) (60 ANWs in 2024 amounted to EUR 114,162; 60 ANWs in 2023 amounted to EUR 101,094; 60 ANWs in 2022 amounted to EUR 90,246; 60 ANWs in 2021 amounted to EUR 81,162), or 84 ANWs in 2020 (therein amounted to EUR 104,277.60), then the part in excess is taxed at an income tax rate of 32%;
- if you received taxable income in Lithuania, such as interest, royalties, rental income from immovable property located in Lithuania, income from sporting and performing arts activities, income from the sale/other transfer of ownership of immovable property located in Lithuania and movable property subject to legal registration in Lithuania;
- if the amount of income listed above exceeded 120 average national wages per year (hereinafter referred to as “ANW”) (120 ANWs in 2024 amounted to EUR 228,324; 120 ANWs in 2023 amounted to EUR 202,188; 120 ANWs in 2022 amounted to EUR 180,492; 120 ANWs in 2021 amounted to EUR 162,324; 120 ANWs in 2020 amounted to EUR 148,968), then the part in excess is taxed at an income tax rate of 20%.