The Seimas to increase the non-taxable amount by 20% from the New Year
The Seimas unanimously approved the draft amendment to the Law on Personal Income Tax submitted by the Ministry of Finance, following which from 1 January 2024 the maximum applicable non-taxable amount (NTA) is increased by 20 %, up to EUR 747.
According to Minister of Finance Gintarė Skaistė, the approval of the Ministry’s proposal by the Seimas will allow those earning the minimum monthly wages (MMW) to receive by EUR 75.2 higher net monthly income next year, or by EUR 902.4 more per year.
