In accordance with the legislations established by the State of the Republic of Lithuania, Edrana Baltic implements the adopted amendments and gives access to users to the developed programs for an easy and simple calculation of salaries payable to employees and application of the correct TET, which is set to change from January 2022.
From 1 January 2022 would be increased the minimum monthly pay (MMP), before taxes to 730 EUR. Along with the increase in the minimum hourly pay (MHP), before taxes to 4,47 Eur.
At the same time, the applicable monthly tax-exempt threshold (TET) is set to change as well:
- For a resident with wage income (W) under EUR 730 (MMP), the applicable monthly TET is EUR 460.
- For a resident with wage income (W) over EUR 730 but under EUR 1678, the applicable monthly TET is calculated according to the following formula:
TET = 460 – 0.26 x (W – 730 (MMP))
- For a resident with wage income (W) over EUR 1678, the applicable monthly TET is calculated according to the following formula:
TET = 400 – 0.18 x (W – 642)
For persons with impaired ability to work:
- For persons with a working capacity level of 30-55 percent, the applicable monthly TET is EUR 690.
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