Personal Tax

We believe that a growing economy like Lithuania’s needs to continue to reward entrepreneurship and personal effort. It is in the interests of both taxpayers and the wider community to ensure that benefits and reliefs granted by tax legislation are taken advantage of and incentives work in the direction intended.

We therefore advise on ways of structuring relationships between individuals and businesses, such as freelance or employment agreements, together with ways in which commercial objectives can be reconciled with taxation advantages. We perform comparatives of the tax and social security effects, including any impact arising from spending significant time- or owning property, in more than one country. We can also draft the instrument governing the chosen relationship.

We provide advice on tax effective non-monetary remuneration structures, including the treatment of specific benefits in kind.

Where succession planning is required, we advise on the deferral benefits associated with trusts, future rights, or elimination of easements.

We understand that the profile of international assignments is changing and individuals in an organization can, sometimes inadvertently, in the same tax period become resident in a number of jurisdictions. We advise on the tax liabilities which might arise in such circumstances, and planning steps which can be taken to minimize total tax cost. Our experience also covers employer equalization policies and we can assist in calculating the gross income which would be required to achieve the target net salary, as adjusted by company policy on cost of living, relocation or other adjustments.

Working with social security equalization agreements, we advise on how this charge interacts with any personal tax implications, giving a fuller picture of payroll cost or deductions from earnings.

Clearly we are also pleased to perform compliance services and support in query resolution, payment reminders and other aspects of the process.