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
In January 2009, the EBRD commissioned two Italian consultants to study Turkey's sustainable energy market in preparation for future investments.
more »
Next week a delegation of more than 50 Chinese businessmen, accompanying the Chinese Vice-Premier Hui Liangyu, are arriving to Lithuania.
more »
The German developer “ECE” together with Lithuanian partners opened a new shopping and entertainment centre Ozas Gallery in Vilnius.
more »
As it embarked on an ambitious stimulus spending, Thailand turned to the World Bank for advice on how to fast track the spending coupled with proper management controls to keep programs on the rails.
more »
Peter Reiniger Business Group Director for Central Europe and the Western Balkans from the European Bank for Reconstruction and Development visited Latvia to sign subordinated loan agreement with Parex banka.
more »
On Monday AB DnB NORD Bankas started placement of a 13-month fixed-rate Lithuanian government bonds. It is the first time when Lithuanian sovereign USD denominated securities will be available on Lithuania’s retail market.
more »
The Swedish business daily Dagens Industry published an interview with Andrius Kubilius, the Prime Minister of Lithuania, to Bloomberg News.
more »
The economic crisis still has a firm grip on large parts of the world. But Sweden’s Minister for Trade Ewa Björling can see bright spots.
more »
The European Bank for Reconstruction and Development and KfW Entwicklungsbank (The German development bank) are providing a financing programme worth up to €28.9 million to MegaBank - one of the strongest regional banks in the eastern Ukraine.
more »
A settlement in an international tax dispute that strained U.S. ties with Switzerland.
more »