Rental Income Tax (Effective) in Lithuania compared to Europe
|Bosnia & H.||10.00%|
Lithuania: Rental income taxes (%).
The tax levied on the average annual income on a rental apartment/property in the country.
- Gross rental income is /US$1,500/month
- The property is personally directly owned jointly by husband and wife
- Both owners are foreigners and non-residents
- They have no other local income
- There is no mortgage, i.e., no loan is taken for the purchase
In arriving at the pre-tax profit figure, we calculate, and deduct:
- Depreciation / capital allowances if available. We assume a value for the apartment based on our valuation research, and depreciate on this basis.
We deduct any other costs which a landlord normally pays - management charges, buildings insurance, realtor agency fees, etc. We either choose a standard percentage deduction (if available) or typical actually incurred costs. If real estate tax is normally payable by the landlord, we deduct that.
Our rental income tax figures are provided by accountants (see list of contributors). For more details see the Data FAQ.
Source: Global Property Guide Research, Contributing Accounting Firms
Lithuania does not publish an official house price or rents time-series. The real estate firm Inreal published annual prices and rents for Vilnius from 1998-2007. Ober Haus, another private firm, publishes monthly average apartment prices in Vilnius and a monthly apartment price index for Lithuania's 5 largest cities. General economics statistics for Lithuania are published by the Bank of Lithuania and the Statistikos Departamentas, which keeps construction and stock of dwellings figures, but no house prices or rents.