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Rounding principles

The exchange rate of the euro against the litas was irrevocably fixed and approved; therefore, the currency changeover will have no impact on individuals’ income. This is also defined in the Law of the Republic of Lithuania on the Euro Adoption, which entered into force in July 2014: income received by individuals (wages, pensions and other social benefits) will not change due to the adoption of the euro and they will be rounded up to the consumer’s benefit;

Prices

In case of prices of services and goods, rounding will be performed according to the mathematical rounding rule – in case the third digit is under 5, the second digit remains unchanged, and if it is 5 or above 5, the amount is rounded up. The calculation examples are as follows:

  • 10 litas: 3.45280 = 2.8962... =  EUR 2.90
  • 20 litas: 3.45280 = 5.7924... = EUR 5.79
  • 50 litas: 3.45280 = 14.481 = EUR 14.48
  • 100 litas: 3.45280 = 28.9620 = EUR 28.96
  • 250 litas: 3.45280 = 72.4050 = EUR 72.41
  • 500 litas: 3.45280 = EUR 144.81
  • 1000 litas: 3.45280 = 289.6200... = EUR 289.62

Rounding of income to the benefit of the recipient

From 1 January 2015 the amounts of wages, pensions and other social benefits in litas will be converted to the euro to the benefit of the recipient by rounding to the nearest euro cent. If the third digit after the decimal point is above 0, one unit will be added to the second digit. For example,

  • if a wage amounts to LTL 1540: 1540 : 3.45280 =446.01482... = EUR 446.02;
  • if you receive a pension of LTL 830, 830 : 3.45280 = 240.38461... = EUR 240.39;
  • if you receive a maternity benefit of LTL 1170, in this case 1170 : 3.45280 =338.85542... = EUR 338.86.

Amount of fines is rounded to the benefit of the payer

From 1 January 2015 all payment transactions of charges, levies and other contributions as well as payable amounts related thereto (fines, default interest and interest) will be handled in euro. From 1 January 2015 fines imposed for administrative offences and payable stamp duty will be converted to the euro to the benefit of the payer by rounding them to the nearest whole number. For example,

  • if a fine of LTL 1000 has been imposed for an administrative offence: 1000 : 3.45280 = 289.620018... = EUR 289;
  • if the payable stamp duty amounts to LTL 200: 200 : 3.45280= 57.924003... = EUR 57.