In connection with the Budget Law for 2023, the Lithuanian parliament (Seimas) is considering two draft laws that include amendments regarding the tax-exempt amount for employment income of resident individuals and the reduced VAT rate of 9% on certain supplies. Subject to approval, both laws are to enter into force on 1 January 2023.
Draft law XIVP-2147(2) contains amendments to the Personal Income Tax Law in regard to the monthly and annual tax-exempt amount (TEA) for employment income of…