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2023
Tax laws changes affecting payroll
Tax laws changes affecting payroll as of January 1, 2023 in Lithuania
GT International press release
Global business optimism falls as mid-market prepares for ‘unusual’ recession
Many economies around the world are preparing for a rather unusual recession. One that is characterised by conditions usually associated with a boom, such as low levels of unemployment (instead of increasing levels) and central banks raising interest rates (instead of cutting them). These unusual characteristics combined with what many commentators expect to be a shallow and short recession, could mean the ‘usual’ response to a recession may not be the right course of action for businesses.
In the beginning of the year, several tax changes were introduced in Lithuania, Latvia and Estonia.
Some of the changes will become effective in 2020. In addition we shall highlight tax rates applicable in the Baltics as of 2020.
In addition to several individual changes, there are also general changes that shall be applicable in all Baltic states as of 2020.
Grant Thornton Baltic tax specialists prepared an overview of the changes that have taken place in Lithuania, Latvia and Estonia, which you can find here. [ 481 kb ]
If you have questions about taxes, we are happy to help you. Please contact our tax consultants!
In Lithuania:
Vykintas Valiulis
Partner, Head of Tax and Advisory services
Tel +370 620 74 145
E-post Vykintas.Valiulis@lt.gt.com
In Estonia:
Sander Adamson
Senior Tax Manager
P +372 626 0500
E-post Sander.Adamson@ee.gt.com
In Latvia:
Mārtiņš Lubgans
Head of Tax
P +371 672 873 44
E-post Martins.Lubgans@lv.gt.com
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