Therefore, the companies will have to deduct from the salary the following social security contributions:
• 9% (standard tax rate applied to employees who did not choose to transfer additional contributions to pension funds) or
• 11% (tax rate applied to employees who have chosen to do it) of social security tax from employees salaries.
Social security tax – additional voluntary transfer to pension funds
Recent Posts
5 days ago
Tightening the recruitment of foreigners and additional requirements for employers
Amendments of the Law on the Legal Status of Foreigners of the Republic of Lithuania (“the Law“) entered into force on 1 July 2024. The…
November 1, 2024
Employee motivation: how to find a balance between the capabilities of the company and effective benefits
For company managers, employee motivation must be considered in several aspects, including the selection of effective incentives and accurately calculating the budget allocated to them.…
October 22, 2024
Cancellation of Legal Entities’ Liquidation Procedures: Now Without Court Intervention
In recent years, the Lithuanian Register of Legal Entities (hereinafter – the Register Center) intensified its monitoring of companies that are not conducting business or…