Taxes

Here you can find information and videos about taxes in Lithuania and your responsibilities as a person with individual activity. In the FAQ section you can find main questions and answers due to tax declaration period.

What taxes must be paid in Lithuania? We present a table that reflects information on taxes for individuals engaged in individual activities. 1. Mandatory health insurance (PSD) and state social insurance (VSD): Bolt partners – drivers must pay from 90 % of taxable income: Compulsory Health Insurance (6.98 % of the profit from which Sodra's contribution base is calculated) State Social Insurance (VSD, 12.52 % from 90 % of taxable income % if a person participates in pension accumulation and pays a 1.8 % contribution, or 15.52 % if a person participates in pension accumulation and pays a 3 % contribution) contributions. For more detailed information on the calculation and payment of PSD and VSD contributions, it is recommended to contact SODRA (website www.sodra.lt, consultations by phone 1883). 2. Taxation of individual activities (GPM): Income from individual activity is taxed at the personal income tax rate of 5 or 15 %. Income tax is calculated and paid from the taxable income of individual activities, i.e. i.e. from the difference obtained from the income received during the tax period after deducting the calculated allowed deductions (in accordance with the procedure established in Article 18 of the Tax Code) - the actual expenses of the activity, which are based on legally binding documents (the car must be declared in form 457), or an amount equal to 30 % of the earned income of the individual activity income that is not required to be supported by relevant documents. Taxable income from individual activity, which does not exceed 20,000 euros per year, is effectively taxed at the rate of 5 % income tax. When the taxable income exceeds the limit of 20,000 euros, the income tax increases from 5 % to 15 %, and when the amount of 35,000 euros is reached, the income tax rate is 15 %. How the GPM rate applied to a resident's income from individual activity may change can be calculated using VMI together with the individual activity tax calculator prepared by "Sodra", which you can find here. Income tax from the income of individual passenger transport activities must be calculated, declared and paid to the budget by May 1 of the following year, i.e. i.e. passenger carriers should submit an annual income declaration to the State Tax Inspectorate and by May 1 to pay (payment code 444) the income tax calculated in it. You can calculate the fees to be paid in advance here. For more detailed information on the calculation and payment of taxed income, it is recommended to contact VMI (website www.vmi.lt, consultation via phone 1882 or +370 5 2605060) Useful information: Information about individual activity can be found in I am starting an individual activity. You can find more information in the Tax Handbook (GPM Law and Commentary, VAT Law and Commentary, GPM Publications, VAT Publications).

You can consult with a VMI specialist: - For tax issues, 1882 or +370 5 2605060 or services provided by VMI, +370 5 2191777 My VMI after selecting "Request Service" Useful information on individual activities can be found in: - I am starting an individual activity ( GPM Law and Commentary , VAT Law and Commentary , GPM Publications , VAT Publications ). Tax Handbook You can consult with a SODRA specialist: - Consultations via phone 1883

Important FAQs about Taxes in Lithuania