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The State Tax Inspection (STI) recalls that as of 2020 the total tax-free value of real estate is 150 thousand. euros. If the total tax value exceeds this threshold, tax rates of 0.5% will apply. up to 2 percent. depending on the price of the property.
Additional millions
According to the STI, in 2020, the so-called luxury real estate tax returns were filed by more than 15 thousand. population. The total amount of taxes declared by them exceeds 5.2 million. euros.
Currently, 5.1 thousand are still waiting. population statements. Its reportable amount of property tax amounts to 1.3 million. informs the STI.
It is true that a part of the unpaid population may not have to pay the tax at all, but this can only be determined by submitting the necessary documents to the STI.
“Residents can also submit additional documents (excerpts from the” Registry Center “on the registered joint property, lease agreement proving that the property has been leased to the company, etc.), so they will no longer be required to declare real estate tax “, Director of the Department of Obligations Stasė Aliukonytė-Šnirienė.
It adds that the real estate tax applies to all real estate managed by a resident.
“For the tax value of homes, gardens, garages, farms, greenhouses, farms, auxiliary farms, scientific, religious, recreational (local) buildings, fishing buildings and engineering structures. Generally, the tax is applied on the total value of said real estate owned by the resident ”, explains the STI representative.
According to S. Aliukonytė-Šnirienė, the property tax is generally paid by the owner of the object, although in some cases the tax is calculated for each resident separately for their share of the property (the tax-free value is applied to a person).
“The declaration of real estate subject to property taxes or acquired by family members on the basis of personal, joint and / or partial property, will be presented by each of the spouses separately by the part that belongs to them, as a tax-free value it is 150 thousand. EUR applies to each individual.
Real property is considered joint property of the spouses when the joint property of the spouses is recorded in the registry. Without registration, the real estate property is considered to belong to one of the spouses by personal property right and the property tax is calculated only for that person, ”says S. Aliukonytė-Šnirienė.
When the value of the taxable property has not changed during the tax period, the property tax is calculated by multiplying the taxable value of the property by the tax rate. If the value of the taxable property has changed during the tax period, the tax is calculated by adding all the tax amounts calculated over 12 months.
“The total value of the real estate must be indicated to the resident in the declaration, the applicable tax-free amount must be indicated and the tax is calculated automatically,” explains S. Aliukonytė-Šnirienė.
Interest is charged to those who do not pay
According to the STI, the 2020 real estate tax return had to be filed and the declared tax paid before December 15, 2020. If the tax is not paid on time, 0.03 percent is calculated. interest per day.
This means that if the total value of your property is, for example, 170 thousand, the tax rate for said property will be 850 euros, and if it is not paid on time, the debt will increase by about 26 euro cents every day. Thus, the delay from mid-December to the present, in a period of more than 80 days, would add more than € 20 to the € 850 rate.
S. Aliukonytė-Šnirienė adds that according to the current provisions of the Tax Administration Law, the tax can be calculated or recalculated for the current calendar year and the three previous years.
“Reminders are sent to residents to present a declaration or other documents that justify that there is no obligation to declare. If the return or other documents are not submitted within the period specified in the reminder, the STI will make alternative returns to residents based on available data and calculate the tax to be paid.
However, this does not exempt the taxpayer from the obligation to calculate the tax in accordance with the procedure established by the Tax Law and submit a property tax return to the tax administrator ”, clarifies S. Aliukonytė-Šnirienė.
However, according to the STI representative, due to the pandemic, tax assistance measures are automatically applied to residents who are not self-employed.
“They will be exempt from default interest for the period from 2020 onwards. March 16 until 2021 They will not be subject to any new action to recover tax arrears derived from 2020 until June 30, 2010. March 16 until 2021 30 of April
Also, even this. meter. April 30, 2006, the latter can apply to the tax administrator and enter into an interest-free tax loan agreement ”, recalls S. Aliukonytė – Šnirienė
The STI representative points out that the tax-free real estate (or part of it) used by the resident for social care and social assistance, as well as for income from agricultural activities, educational work as a creative workshop for individual creative activities ( when the resident has the status of artist), as well as real estate (or part of it) located in the cemetery area.
Debt makes it difficult to obtain a loan
The Bank of Lithuania recalls that tax debt can limit opportunities to borrow, for example to buy a car.
“Specific borrowing opportunities may be limited not by the type of debt, but by its size.
According to credit regulations, the maximum monthly amount of the borrower’s obligations cannot exceed 40%. Sustainable monthly income. If this limit is exceeded, the lenders have no right to make new loans to that person, ”notes the Bank of Lithuania.
According to the Bank of Lithuania, before granting a loan, creditors must verify whether the borrower is improperly fulfilling or has improperly fulfilled his obligations to financial institutions, as well as collect information about his indebtedness with financial institutions and consumer credit history .
“This is information about loans related to real estate, other consumer loans, financial leases, scheduled payments with limit payments from credit cards, loans, and so on.
(…) The mortgage lender should also collect information on the borrower’s debt obligations under credit agreements and other agreements: lease history, credit card limits, other loans, etc. ”, Clarifies the Bank of Lithuania.
The Bank points out that the debts of consumers with the State do not fall directly into the definition of financial liability, but creditors must evaluate all the relevant circumstances that they are aware of.
“Therefore, if, after checking the databases, they contain information on other liabilities or debts of the consumer, the creditor must take that information into account and evaluate it,” clarifies the Bank of Lithuania.
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