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Lithuania: Inheritance

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Last Updated: Nov 28, 2007

Inheritance tax and law

The Law on Taxation of Inherited Property regulates the inheritance tax (Paveldimo turto mokestis) effective from 01 January 2003. The taxable inheritance is the property’s market value. The tax rate is 5% for inherited property up to LTL500,000 (€144,810). If the value exceeds LTL500,000 (€144,810), the whole amount is subject to a 10% rate.

The following are exempt from inheritance tax:

  • property inherited from a spouse;
  • property inherited by children and adopted children, parents and foster parents, by persons under guardianship, guardians, grandparents, grandchildren, brothers and sisters; and
  • property with a taxable value not exceeding LTL10,000 (€2,896).

 

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