June 10—Lithuania is to implement income tax brackets in 2016, according to a draft law submitted June 8 to the Lithuanian parliament (Seimas). The current flat income tax rate is 15 percent.
• 15 percent for annual income of up to 14,000 euros ($15,830);
• 25 percent up to 36,000 euros ($40,705); and
• 40 percent above 36,000 euros.
The law is to enter into force Jan. 1, 2016, pending Seimas approval, and will be applicable for the calculation of personal income tax for 2016 and subsequent tax periods.
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The draft law can be found in Lithuanian at http://www3.lrs.lt/pls/inter3/dokpaieska.showdoc_l?p_id=1039182&p_query=&p_tr2=&p_hil=&p_sess=&p_no=1.
More information on payroll issues in Lithuania can be found in the Lithuania country primer.
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