Lithuania is a country located in Eastern Europe that offers attractive tax advantages to companies that choose to set up there. Lithuania is a member of the European Union and the World Trade Organization, making it an ideal location for businesses looking to expand internationally. In this article, we will look at Lithuania's tax and other benefits for companies looking to set up there in 2023-2024.
Tax benefits in Lithuania
Lithuania offers attractive tax advantages to companies that choose to set up there. Businesses expanding there can benefit from a corporate income tax rate of 15%, which is lower than the European average of 19,3%. Additionally, Lithuanian companies can benefit from a dividend tax rate of 5%, which is also lower than the European average of 10,5%.
Additionally, Lithuania offers tax exemptions for companies incorporating there. Companies can benefit from a 50% tax exemption on their profits for the first five years of activity. In addition, companies can benefit from a 100% tax exemption on their profits for the first five years of activity if they invest in research and development projects.
Business Regulation in Lithuania
Lithuania also offers advantages to companies wishing to set up there due to its relatively simple and flexible business regulations. Lithuania has a business regulatory system in place that is designed to encourage businesses to locate and prosper there.
For example, Lithuania has implemented a simplified declaration system for companies wishing to set up there. This system allows businesses to register online and complete their tax returns online. Additionally, Lithuania offers businesses free legal and tax assistance to help them set up and prosper.
Infrastructure in Lithuania
Lithuania also offers a solid and modern infrastructure to companies wishing to set up there. Lithuania has invested heavily in its infrastructure over the past few years, making it an ideal location for businesses to set up shop.
For example, Lithuania has established a modern and efficient transport network that connects the country to Europe and the rest of the world. Additionally, Lithuania has established a modern and efficient telecommunications system that allows businesses to easily communicate with their customers and partners internationally.
Skilled workforce in Lithuania
Finally, Lithuania offers a qualified workforce to companies wishing to set up there. Lithuania has a young and dynamic population that is highly qualified and ready to work for the companies that set up there. Additionally, Lithuania offers training and professional development programs to help businesses find and train their employees.
Conclusion
In conclusion, Lithuania offers a number of advantages to companies wishing to set up there in 2023-2024. Lithuania offers attractive tax benefits, relatively simple and flexible business regulations, strong and modern infrastructure and a skilled workforce. These advantages make Lithuania an ideal location for businesses to set up shop and thrive.
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