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
On 11 February, heads of state or government of European Union member states will meet in Brussels to seek a commitment towards implementing a revitalised economic strategy to boost employment and growth in the EU.
more »
International Monetary Fund forecasts that Lithuania’s economy will grow 1.6 % this year, making it “the only one of the three Baltic economies expected to be in the positive territory in 2010”.
more »
Raynair announced it would open its 40th and 1st Central European base at Kaunas, Lithuania’s second largest city, in May with 2 based aircraft and 18 routes.
more »
A new Partnership Strategy for Morocco has been approved by the Board of Executive Directors of the World Bank.
more »
The electric car is an opportunity for European industry.
more »
The EBRD’s Board of Directors has adopted a new strategy for Kazakhstan, which reinforces the Bank’s commitment to further support the Kazakh economy and sets out the priorities for its activities in the country over the next three years.
more »
The European Commission has authorised, under EU state aid rules, plans notified by Sweden to provide a guarantee that would enable Saab Automobile AB to access a loan from the European Investment Bank (EIB).
more »
At the informal meeting of the Ministers of Competitiveness (Science and Industry), to be held between 7 and 9 February in San Sebastian, the issues on the table will include placing science at the top of the EU agenda and showcasing its role in economic recovery, as well taking the debate on the electric vehicle to EU level.
more »
The Executive Board of the International Monetary Fund (IMF) today approved a 27-month Stand-By Arrangement with Jamaica in the amount of SDR 820.5 million (about US$1.27 billion) to support the country’s economic reforms and help it cope with the consequences of the global downturn.
more »
Mr. Nadeem Ilahi, chief of an International Monetary Fund (IMF) staff mission to the Kyrgyz Republic, issued the following statement today in Bishkek.
more »