Information about Lithuania Minimum wage and taxes.

Information about minimum wage and taxes in Lithuania is as follows: Minimum wage: As of 2021, the gross minimum wage in Lithuania has been determined as 642 Euros. This wage is the gross monthly earnings of a full-time worker. Net minimum wage refers to the amount obtained after taxes and social security deductions are deducted. Taxes: In Lithuania, income tax is collected on personal income and applied at different rates according to income brackets. As of 2021, income tax rates in Lithuania are as follows: - 20% for income between 0 Euro and 14,400 Euro - 27% for incomes between 14,400 Euro and 84,000 Euro - 32% for income over 84,000 Euros However, a special tax bracket is applied for income from minimum wage. In Lithuania, the entire minimum wage is exempt from tax. Additionally, social security deductions are also made in Lithuania. These deductions are calculated on the employee's gross salary and are taken as contributions to social security services such as health insurance, retirement insurance and unemployment insurance. In Lithuania, employers also pay some taxes on their employees' salaries. These taxes are called health insurance, retirement insurance and unemployment insurance premiums for the employer's employee. Tax rates and tax liabilities in Lithuania may vary depending on the amount of annual income, marital status and other factors. Therefore, it is recommended that you seek support from tax consultants in Lithuania to get more detailed information on tax issues.