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Real Estate Tax in Lithuania

9 October 2014
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On the January 1, 2006 a Law on Real Estate Tax has entered into force. The tax ranges from 0,3% to 3% and it is paid by real estates intended for certain purposes (administration, accommodation, trading, services, catering, transportation, manufacturing, industrial, warehouse, medical services and sports). According to it, real estate used by individuals for busi­ness or individual activities with several ex­ceptions or disposed to the legal persons for the period longer than 1 month the real estate must pay tax. The council of the municipality on the territory where buildings and structures are located determines the exact rate of the tax.


If a natural person owns real estate property which exceeds 1 000 000 LTL (290 000 EUR) in value, the person shall pay 1% real estate property tax.

Lithuanian and foreign entities owning buildings and structures located in Lithua­nia are obliged to pay real estate tax as they did before the January 1, 2006.

 

Legal entities, as opposed to in­dividuals, should pay advance installments on a quarterly basis. Both individuals and legal entities should provide an annual real estate tax return to the State tax authorities not later than 1 February of the next year.

 

 

 

Andrius Apanavičius, lawyer of the Gencs Valters Law Firm in Vilnius

Practising in fields of  Real Estate Tax in Latvia, Lithuania and Estonia

T: +370 52 61 10 00

F: +370 52 61 11 00

andrius.apanavicius@gencs.eu

For questions, please, contact Valters Gencs, attorney at law at info@gencs.eu


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The material contained here is not to be construed as legal advice or opinion.

© Gencs Valters Law Firm, 2016
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