Question was asked by Omer
Income tax is paid annually from 5 to 15 percent. The reduced profit tax in the amount of 5 percent can be used subject to the following conditions:
- the company shall have an annual turnover of no more than EUR 300,000 per year,
- the company is allowed employ no more than 10 employees,
- shareholders may not hold more than 50 per cent of shares in other Lithuanian companies.