Many Lithuanians do not take the 384 euros they are entitled to: do you need the money?

If they continue to fail to do so, the money will go to the state budget, which is the general pot of state money.

As is known, over a million of the country’s inhabitants submit income declarations to the State Tax Inspectorate (VMI) every year.

Part of such residents incurs an excess of personal income tax (PIT), which must be paid to the VMI themselves.

Another part of people pay more taxes than they should. VMI returns such tax overpayment to people – transfers the money to a bank account.

However, for one reason or another, thousands of residents appear every year who do not claim their money and leave it at VMI.

Almost 400 euros are not returned

“Having submitted the declarations on time, but overpaid by July 31. Residents who have not yet received it should check whether they need to correct the previously submitted declaration.

After submitting a revised declaration, the deadline for refunding the overpayment is no later than 90 days from the date of submission of the declaration”, explains Martynas Endrijaitis, deputy head of the Ministry of Internal Affairs and Communications.

He calculates that currently even about 9.1 thousand of the population have not specified or provided data for 2022, and according to the data available at the Ministry of Internal Affairs, the amount of the GPM overpayment that has not been returned and remains in the state budget is about 3.5 million. euros.

Thus, one such resident owns an average of 384.6 euros.

“We would like to point out that this amount may change, because after the person submits or corrects the data, the GPM to be returned may no longer be available or its amount may change,” commented M. Endrijaitis to the tv3.lt portal.

He explained that people don’t get their money back for different reasons. The deputy presented the following situations, due to which VMI cannot return the GPM overpayment in the usual manner:

• residents do not declare all income tax-reducing expenses;
• the resident leaves Lithuania and no longer connects to VMI systems;
• it is not known that if the workplace does not apply the monthly NPD, the annual NPD is later recalculated and a tax overpayment may occur.

Why tax overpayments occur

M. Endrijaitis indicated that GPM overpayment often occurs in cases where a resident decides not to apply the monthly non-taxable income amount (NPD), even though he owns it:

“In such a case, the GPM overpayment can be recovered simply by submitting the annual income tax return through the Electronic Declaration System (EDS).”

GPM overpayments can also be made for those residents who, according to life insurance contracts, cover their own, spouse’s, minor children’s or those over 18 years of age. pays insurance premiums for the benefit of disabled children; pension accumulation contributions; interest on a home loan (taken before January 1, 2009).

“Also in cases where residents pay for studies, during which the first higher education is acquired or the first qualification is granted, or they repay the loan received for studies. If the student does not have the opportunity to exercise this right, his parents or spouse can do it for him,” said the deputy.

In total, more than 600,000 people have already received income tax overpayments this year. population – 250 million were returned to them. EUR GPM overpayments.

It is said to be very easy to recover the GPM overpayment when it is generated by the resident on time and by properly submitting a correctly completed GPM declaration, which is done by the vast majority.

A declaration submitted correctly and on time is automatically equivalent to a request to return the overpayment and the resident does not need to do or submit anything else – the amount of the overpayment is simply transferred to the bank account specified by the person by July 31 of that year, the VMI representative reminded.

Reimbursement of overpayments is carried out randomly, regardless of the time of submission of the declaration, as well as taking into account the municipal budgets from which they are returned to residents.

A resident can submit a declaration for the past five years, and if he does not submit a declaration, GPM overpayments for older periods remain in the budget.