Important information to the client with regard to the Law on ITI which came in force on 01-01-2014
please be informed that since 1 January 2014 after the new provisions of the Law on Income Tax of Individuals come in force, the bank shall be obliged to deduct and pay Income Tax of Individuals (hereinafter - ITI) from interest gained by natural entities non-residents* (natural entities).
At the interest payment time the mentioned clients will be subject to calculation and deduction of ITI under new deposit, bank/payment card account agreements concluded since 01 January 2014.
* Non-residents - non-permanent residents of the Republic of Lithuania (for purposes of income tax payment and its declaration) as it is regulated by Law on Income Tax of Individuals of the Republic of Lithuania.
**The general tax rate is 15 per cent. With regard to the non-resident's country and the DAS-1 form approved by the State Tax Inspectorate under the Ministry of Finance the bank can apply 10 per cent or 0 per cent ITI rate. The list of the countries and DAS-1 form are available on www.sb.lt or could be presented by a bank's employee servicing a client non-resident.