How to use the concession of the resident income tax?

Changes of taxes 2014

The change of Part 3 Article 6 of the Law on the Resident Income Tax comes into force on the 1st of January 2014 and it says: „3. A 5 per cent income tax rate is applied to the income of individual activity or income of non-individual activity obtained after selling non-noble metal scrap or transferring it to the property in another way if the deductions allowed by Article 18 of this Law have not been deducted from this income except the activity of free occupations.“

In other words, you may use the concession of the resident income tax for the scrap given away until 31-12-2013. Since 01-01-2014, a 5% resident income tax rate is applied for non-noble metal scrap and it is not returned. You may get back a 15% resident income tax rate for the year 2013 and the previous years (2012, 2011, 2010…).

What should you do?

As soon as the National Tax Inspection announces on the acceptance of declarations of the resident income tax, you will have to submit this declaration to the Tax Inspection of your region.

Mostly there is a preliminary declaration in https://deklaravimas.vmi.lt and all you need is to review it, enter lacking data, print and submit it.

You may also submit an electronic declaration in the same website: https://deklaravimas.vmi.lt.

The specialists of the National Tax Inspection will give you the best consultation on proper filling out of the declaration on the short phone number: 1882.