Small companies having less than 10 employees and annual revenues up to LTL 1 million (EUR 290,000) will have a zero profit tax rate on the LTL 25,000 (EUR 7,240) share of taxable profit
Published:
17 June 2004 y., Thursday
Small companies having less than 10 employees and annual revenues up to LTL 1 million (EUR 290,000) will have a zero profit tax rate on the LTL 25,000 (EUR 7,240) share of taxable profit, following the amendments to the Law on Profit Tax.
For the share of profit exceeding LTL 25,000 (EUR 7,240) a 15% profit tax rate will be paid, according to the above mentioned amendments.
The preferential tax rate will apply to sole proprietorships of unlimited civil liability, general and limited partnerships.
The present tax break of 13% is applied to small companies whose gross income during the taxable period is less than LTL 500,000 (EUR 144,900) and whose number of employees does not exceed 10.
Currently about 39,000 sole proprietorsips are active on the market.
Šaltinis:
lda.lt
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.
The most popular articles
Women in the EU earn on average 18% less than men - a gap that has scarcely narrowed over the last 15 years and in some countries has even grown.
more »
43 gas and electricity projects to split €2.3bn, the most the EU has ever spent on energy infrastructure in a single package.
more »
Georgia and the European Union have initialled a comprehensive air services agreement at a meeting in Tbilisi, Georgia, today which will open up and integrate the respective markets, strengthen cooperation and offer new opportunities for consumers and operators.
more »
In order to vitalize and strengthen cooperation of business stakeholders in the region, the Nordic and Baltic countries continue running joint mobility programme.
more »
The EBRD is boosting the availability of financing to the real economy sector in Serbia, with a €20 million credit line to Société Générale Serbia for on-lending to small and medium enterprises.
more »
The EBRD is supporting the development of the private sector in Armenia and increases further the availability of financing in the real economy sector with a $10 million loan to Ameriabank for on lending to local companies under its Medium Sized Co-financing Facility (MCFF).
more »
The EBRD is supporting the modernisation and improvement of transport infrastructure in Albania with a €50 million sovereign loan to finance the rehabilitation of regional and local roads in the country.
more »
Given the deep impact Latvia has suffered in the wake of the global crisis, and due to the emergency nature of this program, the first operation will focus mainly on the first and second objectives.
more »
Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund (IMF), will visit Africa March 7-11, to discuss opportunities and challenges facing African economies in the wake of the global crisis.
more »
Without enough money, the EU 2020 strategy risks turning into "another vague scoreboard for the Member States", the EP Budgets Committee warned on Thursday when adopting its priorities for the 2011 budget.
more »