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Taxation In Lithuania
Taxes in Lithuania are levied by the central and the local governments. Most important revenue sources include the value added tax, personal income tax, excise tax and corporate income tax, which are all applied on the central level. In addition, social security contributions are collected in a social security fund, outside the national budget. Taxes in Lithuania are administered by the State Tax Inspectorate, the Customs Department and the State Social Insurance Fund Board. In 2019, the total government revenue in Lithuania was 30.3% of GDP. History of taxation in Lithuania Before the 16th century, finances in the Grand Duchy of Lithuania were based on barter. The first taxes ('' duoklė'' ("tribute"), dėkla (grain and hay trubite) and ') were paid in farm products. The first cash taxes were introduced during the reign of Kęstutis, although most taxes were still paid in goods (e.g., wheat, cattle, horses). In the Polish–Lithuanian Commonwealth, a treasury court was es ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lithuania
Lithuania (; lt, Lietuva ), officially the Republic of Lithuania ( lt, Lietuvos Respublika, links=no ), is a country in the Baltic region of Europe. It is one of three Baltic states and lies on the eastern shore of the Baltic Sea. Lithuania shares land borders with Latvia to the north, Belarus to the east and south, Poland to the south, and Russia to the southwest. It has a Maritime boundary, maritime border with Sweden to the west on the Baltic Sea. Lithuania covers an area of , with a population of 2.8 million. Its capital and largest city is Vilnius; other major cities are Kaunas and Klaipėda. Lithuanians belong to the ethno-linguistic group of the Balts and speak Lithuanian language, Lithuanian, one of only a few living Baltic languages. For millennia the southeastern shores of the Baltic Sea were inhabited by various Balts, Baltic tribes. In the 1230s, Lithuanian lands were united by Mindaugas, Monarchy of Lithuania, becoming king and founding the Kingdom of Lithuania ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kvarta
The kwarta ( lt, 'kvarta') or quarter tax was a tax in Polish–Lithuanian Commonwealth on all incomes from crown estates in ''królewszczyzna'' (crown lands). It was established in 1563.Norman Davies, ''God's Playground''p. 97/ref> Initially the rate was 1/4, hence the name, later 1/5. Its purpose was to maintain the Kwarta army. Later it was absorbed into the ''hiberna Hiberna in Polish–Lithuanian Commonwealth was also known as "chleb zimowy" (winters bread) and it was an obligation to guarantee accommodation for troops during winter time. It was an obligation of ''Królewszczyzna'' (crown lands) and church es ...'' military-purpose tax. References Polish–Lithuanian Commonwealth Legal history of Poland Abolished taxes 1563 establishments in Europe 16th-century establishments in Poland {{Poland-hist-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Municipalities Of Lithuania
__NOTOC__ Lithuania is divided into three layers of administrative divisions. The first-level division consists of 10 counties ( Lithuanian: singular – ''apskritis'', plural – ''apskritys''). These are sub-divided into 60 municipalities (Lithuanian: plural – ''savivaldybės'', singular – ''savivaldybė''), which in turn are further sub-divided into over 500 smaller groups, known as elderships (Lithuanian: plural – ''seniūnijos'', singular – ''seniūnija''). At the end of its tenure as a Soviet Socialist Republic, Lithuania's administrative divisions consisted of 44 regions, 12 cities, 80 towns, 19 settlements, and 426 rural districts. The reform of this system was an immediate concern for the new government. The Constitution of Lithuania, ratified in 1992, delegated the power of establishing future administrative units to the Lithuanian Parliament (Seimas). Accordingly, the Seimas passed two fundamental laws: a 1993 law on government representation and a 1994 law ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Agriculture (Lithuania)
The Ministry of Agriculture of the Republic of Lithuania ( lt, Lietuvos Respublikos žemės ūkio ministerija) is a government department of the Republic of Lithuania. Its operations are authorized by the Constitution of the Republic of Lithuania, decrees issued by the President and Prime Minister, and laws passed by the Seimas (Parliament). Its mission is to prosecute state policy realization and coordination in ranges of land, food, fishery, village development, agriculture. The current head of the Ministry is Kęstutis Navickas. Ministers References Agriculture Agriculture or farming is the practice of cultivating plants and livestock. Agriculture was the key development in the rise of sedentary human civilization, whereby farming of domesticated species created food surpluses that enabled people t ... Lithuania Agricultural organizations based in Lithuania {{Lithuania-poli-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ministry Of Environment (Lithuania)
The Ministry of Environment of the Republic of Lithuania ( lt, Lietuvos Respublikos aplinkos ministerija) oversees the environment and natural resources in Lithuania. Its mission is: *To implement the principle of sustainable development; *To set preconditions for rational utilization, protection and restoration of natural resources; *To ensure provision of information about the state of environment and its forecasts to the public; *To create conditions for the development of construction business and the provision of residents with housing; *To ensure a proper environmental quality, taking into account the norms and standards of the European Union. The Environment Protection Department, accountable to the Supreme Council – Reconstituent Seimas, was established to oversee environment protection and exploitation of natural resources after Lithuania declared independence from the Soviet Union in 1990. In 1996, the Department was reorganized into Ministry of Environmental Protecti ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Revenue Of The National Budget Of Lithuania By The Tap Of Tax (2020)
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal entity) by a governmental organization in order to fund government spending and various public expenditures (regional, local, or national), and tax compliance refers to policy actions and individual behaviour aimed at ensuring that taxpayers are paying the right amount of tax at the right time and securing the correct tax allowances and tax reliefs. The first known taxation took place in Ancient Egypt around 3000–2800 BC. A failure to pay in a timely manner ( non-compliance), along with evasion of or resistance to taxation, is punishable by law. Taxes consist of direct or indirect taxes and may be paid in money or as its labor equivalent. Most countries have a tax system in place, in order to pay for public, common societal, or agreed national needs and for the functions of government. Some levy a flat percentage rate of taxation on personal annual income, but mos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Substance Over Form
Substance over form is an accounting principle used "to ensure that financial statements give a complete, relevant, and accurate picture of transactions and events". If an entity practices the 'substance over form' concept, then the financial statements will convey the overall financial reality of the entity (economic substance), rather than simply reporting the legal record of transactions (form). In accounting for business transactions and other events, the measurement and reporting is for the economic impact of an event, instead of its legal form. Substance over form is critical for reliable financial reporting. It is particularly relevant in cases of revenue recognition, sale and purchase agreements, etc. The key point of the concept is that a transaction should not be recorded in such a manner as to hide the true intent of the transaction, which would mislead the readers of a company's financial statements. Examples There is widespread use of substance over form concept in a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been described as a '' sui generis'' political entity (without precedent or comparison) combining the characteristics of both a federation and a confederation. Containing 5.8per cent of the world population in 2020, the EU generated a nominal gross domestic product (GDP) of around trillion in 2021, constituting approximately 18per cent of global nominal GDP. Additionally, all EU states but Bulgaria have a very high Human Development Index according to the United Nations Development Programme. Its cornerstone, the Customs Union, paved the way to establishing an internal single market based on standardised legal framework and legislation that applies in all member states in those matters, and only those matters, where the states have agreed to act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tax Treaties
A tax treaty, also called double tax agreement (DTA) or double tax avoidance agreement (DTAA), is an agreement between two countries to avoid or mitigate double taxation. Such treaties may cover a range of taxes including income taxes, inheritance taxes, value added taxes, or other taxes. Besides bilateral treaties, multilateral treaties are also in place. For example, European Union (EU) countries are parties to a multilateral agreement with respect to value added taxes under auspices of the EU, while a joint treaty on mutual administrative assistance of the Council of Europe and the Organisation for Economic Co-operation and Development (OECD) is open to all countries. Tax treaties tend to reduce taxes of one treaty country for residents of the other treaty country to reduce double taxation of the same income. The provisions and goals vary significantly, with very few tax treaties being alike. Most treaties: * define which taxes are covered and who is a resident and eligible for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seimas
The Seimas of the Republic of Lithuania ( lt, Lietuvos Respublikos Seimas), or simply the Seimas (), is the unicameral parliament of Lithuania. The Seimas constitutes the legislative branch of government in Lithuania, enacting laws and amendments to the Constitution, passing the budget, confirming the Prime Minister and the Government and controlling their activities. Its 141 members are elected for a four-year term, with 71 elected in individual constituencies, and 70 elected in a nationwide vote based on open list proportional representation. A party must receive at least 5%, and a multi-party union at least 7%, of the national vote to qualify for the proportional representation seats. Following the elections in 2020, the Homeland Union – Lithuanian Christian Democrats is the largest party in the Seimas, forming a ruling coalition with the Liberal Movement and the Freedom Party. The Seimas traces its origins to the Seimas of the Grand Duchy of Lithuania and the Sejm of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Constitution Of Lithuania
The Constitution of the Republic of Lithuania ( lt, Lietuvos Respublikos Konstitucija) defines the legal foundation for all laws passed in the Republic of Lithuania. It was approved in a referendum on 25 October 1992. History Statutes of Lithuania The first attempt to codify the laws of Grand Duchy of Lithuania took the form of Statutes of Lithuania, with the First Statute in power in 1529. The document, written in Ruthenian language, fulfilled the role of the supreme law of the land, even including provisions that no other law could contradict it. Constitution of 3 May 1791 In the 18th century the Polish–Lithuanian Commonwealth, a federal entity consisting of the Grand Duchy of Lithuania and the Crown of the Kingdom of Poland, faced a period of decline due to increasingly dysfunctional internal politics. In a belated attempt to rectify the situation, a constitution was adopted on May 3, 1791 – one of the oldest codified national constitutions in the world. The new co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Progressive Tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.Sommerfeld, Ray M., Silvia A. Madeo, Kenneth E. Anderson, Betty R. Jackson (1992), ''Concepts of Taxation'', Dryden Press: Fort Worth, TX The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
