Lithuania is situated in northeast Europe and is one of the
so-called Baltic States. It shares borders with Latvia, Belarus,
Poland and Russia, the last-named in the form of an enclave
sandwiched between Lithuania and Poland.
Lithuania joined the European Union in May, 2004 but retains
its own currency, the Litas (LTL). The Litas is pegged to
the Euro and the government hopes to adopt the Euro by 2013.
Lithuania’s economy maintained steady growth between
2004 and 2007, with GDP growth averaging 8% during this period.
Growth fell to 3.1% in 2008, when GDP stood at USD64.52 billion
(or USD18,100 per capita), and contracted by 15% in 2009 (when
GDP stood at USD54.84 billion (or USD15,400). It is projected
that the economy will shrink further in 2010 before returning
to growth in 2011/2012.
The Lithuanian government has criticized an alleged abuse of the Multilateral
Legal Assistance Treaty by Belarus, after it emerged that
Belarusian officials had used the agreement to gain confidential data specifically
on human rights protestors, including prominent campaigner, Ales Byalyatski,
now charged with tax evasion. RSS
| Email
Updates
Governments must now gear their economies towards jobs, international competitiveness
and increasing the tax-take, the Organization for Economic Cooperation and Development has said in its latest ‘Going for
Growth’ report, analyzing the next step for recovering economies. RSS
| Email
Updates
The Organisation for Economic Co-operation and Development has released for public comment draft documentation and an implementation package for implementing a streamlined procedure for portfolio investors to claim reductions in withholding rates pursuant to tax treaties or domestic law in the source country.
RSS
| Email
Updates
I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
Cyprus
Full Guide
Next 
