aA
New taxes and payout rates will be introduced in Lithuania on Jan 1. BNS offers an overview of seven key changes:
New taxes and payouts in 2020: seven key changes
© Vilniaus miesto savivaldybė

Pensions

Due to pension indexation that takes into account rising wages, pensions will grow more than 8 percent as of January. The average old-age pension will stand at 377 next year, and it will amount to 399 euros for people with mandatory working experience.

Child benefit

Child benefit payments will rise from 50 to 60 euros, and from 70 to 100 for large families, families on low income or raising disabled children.

Salaries of civil servants

The basic pay rate for civil servants will grow from 173 to 176 euros, meaning that around 300,000 states officials and civil servants will see their pay rise.

Minimum wage

The minimum monthly pre-tax wage will increase to 52 euros from 555 to 607 euros in January, brining the after-tax pay up by 41 euros from 396 to 437 euros. Around 156,000 people in Lithuania earn the minimum wage or less, government figures show.

Residential income tax

Those earning 110,000 euros will see their residential income tax rate grow from 27 to 32 percent. There are over 2,000 such earners in Lithuania.

The non-taxable income will rise from 300 to 350 euros.

Real estate tax

The owners of real estate worth more than 150,000 euros will pay the tax, down from the previous threshold of 220,000 euros. 75 percent of such real estate is situated in Vilnius. The government hopes to collect around 2.5 million euros in additional budget revenue per year from this tax.

Fuel excises

Due to growing fuel excises, a liter of petrol will go up by around 4 euro cents. The diesel fuel excise for farmers will increase from 56 to 60 euros per 1,000 liters, meaning that one liter will be around 0.5 euro cents more expensive.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Scientists: strict lockdown might be necessary as early as November

Under the most pessimistic scenario, a strict quarantine in Lithuania might be necessary as early as...

413 new coronavirus cases

On Monday, 413 new COVID-19 cases were detected in Lithuania. Overall, it adds to 11362 confirmed...

Lithuania hands in note to Minsk over Astravyets NPP

Lithuania has on Tuesday handed in a diplomatic note to Minsk over plans to launch power production...

Vilnius, Kaunas, Klaipeda put on lockdown Nnew coronavirus restrictions in Lithuania (2)

Lithuania's government has on Monday placed Vilnius, Kaunas, Klaipeda and another five municipalities...

766 new coronavirus cases

On Sunday, Lithuania already announced the record number of new coronavirus cases. 766 new cases...

Top news

Scientists: strict lockdown might be necessary as early as November

Under the most pessimistic scenario, a strict quarantine in Lithuania might be necessary as early as...

Lithuania hands in note to Minsk over Astravyets NPP

Lithuania has on Tuesday handed in a diplomatic note to Minsk over plans to launch power production...

413 new coronavirus cases

On Monday, 413 new COVID-19 cases were detected in Lithuania. Overall, it adds to 11362 confirmed...

Football and basketball officials say ban on fans in stadiums understandable

Lithuania's top football and basketball officials say the government's planned ban on fans in stadiums...

Colin P. Clarke, Asfandyar Mir | D+ nariams

Al Qaeda’s leader is old, bumbling, and a terrorist mastermind

Ayman al-Zawahiri isn’t trying to plan another 9/11 attack—because he doesn’t need to.

|Maža didelių žinių kaina