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Lithuania To Raise Income Tax Threshold

by Tatiana Smolenskaya, Tax-News.com, Moscow

22 September 2015


Lithuania's Prime Minister, Algirdas Butkevicius, has announced plans to increase the lowest threshold for personal income tax.

Under the proposals, which have yet to be approved by Parliament, taxpayers earning up to EUR928 (USD1,040) per month would be able to exclude EUR200 from their taxable amount, up from EUR166 currently. The proposals would be effective from 2016, he told News Radio.

Households would also be allowed to exclude a further EUR120 per child from their taxable income, up from EUR60 currently.

TAGS: tax | economics | tax incentives | fiscal policy | budget | tax thresholds | tax breaks | tax reform | individual income tax | Lithuania

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