Business guide

BUSINESS PARTNER OPPORTUNITIES

All who are looking for business partners to enter new markets and indeed having the potential to work with foreign companies and Lithuanian business partners, KCCIC invites to send a business co-operation request for a subcontractor, agent, distributor, importer and/or a joint venture partner in Lithuania and abroad. The request is disseminated among partners across Europe, local partners or directly to Lithuanian companies of a specific sector.
One more option for finding business partners is participation in trade missions and matchmaking events organised by KCCIC.
Please contact Klaipėda Chamber of Commerce, Industry and Crafts for an advice and suggestions on the best match businesses within the local area on +370 46 390 863. 
 

TAXES IN LITHUANIA

CORPORATE INCOME TAX

General flat rate – 15 per cent. Reduced rate of 5 per cent applicable to small companies (income lower than LTL 1000,000 (approx. EUR 289,000), less than 10 employees.

VALUE ADDED TAX

Standard rate – 21 per cent. Reduced rate of 9 per cent applies to heating energy (applicable until 31 December 2012). Reduced rate of 5 per cent applies to drugs covered by Lithuanian budget and means of medical aid (applicable until 31 December 2012).
General VAT payer registration threshold – LTL 155,000 (approx. EUR 45,000).

PERSONAL INCOME TAX

General flat rate – 15 per cent; reduced 5 per cent applies to certain activities carried out by self-employed individuals; dividends are taxed at the rate of 15 per cent.

COMPULSORY HEALTH INSURANCE CONTRIBUTIONS

Employee rate – 6 per cent withheld from gross salary; for employer – 3 per cent on top of gross salary.

SOCIAL SECURITY CONTRIBUTIONS

Employee rate – 3 per cent withheld from gross salary; for employer – 27.98 per cent on top of gross salary.
For more information, please visit the State Tax Inspectorate website: www.vmi.lt.

KEY FACTS ABOUT KLAIPĖDA

Klaipeda is the third largest city of Lithuania and situated in the western part of the country by the Baltic Sea. Because of its exceptional geographic location, the region embraces convenient transport corridors, high potential for business and innovation development, investment and tourism.

Key Facts about Klaipėda:

 Territory: 98, 35 km2;
 Inhabitants: 161,300 (2011);
 Active enterprises: 6,280 (2011);
 GPD: Klaipeda County creates 12 per cent of the GPD in Lithuania;
 Unemployment rate in Klaipeda region – 9.6 per cent (June, 2011), in Lithuania – 1 per cent (June, 2011) (Lithuanian Labour Exchange data);
 Average gross salary in Lithuania– 2,071.6 Lt, Net salary – 1,613.3 Lt (2011, 1st quarter), in Klaipėda Gross salary – 2,032.8 Lt, Net salary – 1,572.6 Lt (2011, 1st quarter) (Lithuanian statistics Department data).

Business sectors:

 Services and tourism;
 Ship repair and construction;
 Transport and logistics;
 Production (wood, metal, chemical products, etc.);
 Seaport activities;
 Building and construction;
 R&D, etc.  

Advantages:

 Ice-free seaport (www.portofklaipeda.lt)
 Free Economic Zone (www.fez.lt)
 Developed tourism infrastructure (www.klaipedainfo.lt)
 Transport corridors connecting Klaipėda with Eastern and Western countries (9th transport corridor).