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Lithuania Considering Increase in Top Individual Income Tax Rate

|Proposed Changes|Lithuania
Lithuania

The Lithuanian Parliament is currently considering a draft bill to increase the top individual income tax rate. If approved, the draft bill would increase the top rate from 27% to 32% for employment income exceeding 84 average monthly salaries in 2020 and for employment income 60 average monthly salaries in 2021 and future years. The draft bill would also set the basic personal allowance at EUR 350 for 2020 and EUR 400 for 2021.

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