Lithuania wants to raise tax-exempt income

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Lithuania wants to raise tax-exempt income

Lithuania s strategic goal is to equal the tax-exempt amount of income with minimum salary. The question is in what period of time. When talking about the minimum salary, a rational line of thought prevailed that the tax-exempt amount of income should be raised by as much as the minimum salary or even slightly more so that it would catch up. The president's adviser told the radio station ini Radijas that the tax-exempt amount of income will never catch up with the minimum monthly salary.

He said that in 2023 the tax-exempt amount of income should be raised from EUR 540 to at least EUR 640.

If the minimum salary should rise by 18 -- 19%, the tax-exempt amount of income should grow by at least EUR 100 next year, according to Augustinavi ius.

In June, the Bank of Lithuania suggested raising the minimum salary from EUR 730 to EUR 867.67, which is an 18.9% increase.