Slides About Taxation

Contents. Vocabulary. What is Taxation? Direct / indirect taxes. Types of taxes in Lithuania. Income tax. Inheritance tax. Health insurance. Value Added Tax. Excise duty. Immovable Property Tax. Quiz. Choose the right answer.

Taxation the levying of tax. Income tax Residents are subject to income tax on their worldwide income. Immovable property land and its related objects, which can not be moved to another place. Contributions a gift or payment to a common fund or collection.

Health insurance It provides an opportunity for insured workers to get health services related to services faster and more convenient. Consumption the using up of a resource.

Direct taxes Taxes payable on income or wealth. Personal income, corporate profits, property taxes are direct taxes. Indirect taxes taxes included in the sales price of consumer commodities and paid indirectly by the consumer in the purchase of goods.

Income tax Inheritance tax Added value Enterprises and organizations real estate Contribution to the guarantee fund State social insurance contributions; Excise duties.

A tax levied on net personal or business income., for example: Employment income Interest Income from distributed profits Rent received for real estate located in Lithuania Employment income.

Health insurance contributions are separated from social security contributions and residents’ income tax. Social insurance contributions are paid by both the employer and the employee.

Taxation Income tax Immovable property Contributions Health insurance Consumption.

A gift or payment to a common fund or collection. land and its related objects, which can not be moved to another place The levying of tax.