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Lithuania: Tax-Efficient Regimes and Sectors |
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Lithuania
Tax-Efficient Business Forms
Exemptions
from Capital Gains are available for a resident
Lithuanian holding company if participation
is at least 25% for a minimum of two years.
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Lithuania Tax-Privileged Business Sectors
A
reduced rate of corporate income tax of 5% applies
to micro-enterprises (turnover
below LTL0.5m and fewer than 10 employees).
There
are two Special Economic Zones under the Law
on the Fundamentals of Free Zones, one in the
port city of Klaipeda and the other in the city
of Kaunas. Companies investing more than EUR1m
in these zones are exempt from corporate income tax
for the first six years, and receive a 50% tax
offset for the next 10 years. Exemptions from
property taxes and VAT apply regardless of the
level of investment. It is not clear, however,
that these zones have been very successful.
Since
2007 there has been a tonnage tax system for
the shipping sector. Shipping operators can
elect to apply the tonnage tax at the normal
rate of corporate income tax to a notional value
based on tonnage. The election then applies
until at least 2016. The scheme applies to entities
in Lithuania engaged in international transportation
by ship or a directly related activity.
The
measure is designed to stimulate the Lithuanian
shipping sector, as ship-owners will pay a lower
level of tax than in any other EU/EEA member
state.
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