Lithuania Lithuania Lithuania (; ), officially the Republic of Lithuania (), is a country in the Baltic region of Europe. Since its independence, Lithuania has been referred to as one of the Baltic states. It is situated along the southeastern shore of the Baltic Sea, to the east of Sweden and Denmark. It is bordered by Latvia to the north, Belarus to the east and south, Poland to the south, and Kaliningrad Oblast (a Russian exclave) to the southwest. Lithuania has an estimated population of 2.7 million people , and its capital and largest city is Vilnius. Other major cities are
Taxation in Lithuania in the national budget (including municipal budgets) in 2013. All of these taxes are collected in the state budget, although a part of the personal income taxes collected from individuals are allocated to the municipality where that individual resides. The rules for this allocation are approved annually. Taxes on property are allocated fully to municipal budgets. Lithuania redistributes a relatively small part of its GDP through taxation. Revenue from taxes and social contributions in Lithuania stood at 27.5% of GDP in 2012, the lowest in Europe. Lithuania also exhibits some of the lowest tax rates on corporate profits, capital and