The capital's debt-ridden municipal government has been fighting for a higher share of the income tax for several years now.
"It was agreed today that the share of the income tax [going to the city] next year will be raised from 42 percent to 50 percent. This leads us to believe that our debts will begin to decrease," Zuokas said after meeting with Prime Minister Algirdas Butkevičius.
The Finance Ministry has envisaged the possibility for increasing the share of the tax going to Vilnius municipal budget by 5-8 percentage points after receiving a respective request from the local government.
Vilnius' authorities estimate that the city next year would receive 70 million litas (EUR 20.3m) more from income tax - around 436 million litas in total - if the share were raised to 50 percent, according to information provided by the city to the prime minister.
It has been agreed that the share of the tax going to the city will increase by 5 points in 2015 and by another 5 points in 2016, the mayor said.
The local government's debt currently stands at 1.1 billion litas, according to the mayor.
The city says that one of its loan tenders announced last year did not attract any offers. The top executives of Sweden's SEB, which owns Lithuania's largest bank by assets, voiced criticism over high debt levels at Lithuanian cities, and Vilnius in particular, during a meeting with the country's prime minister earlier this year.
Vilnius' local government has asked the Constitutional Court to look into whether the central government's decision to give the capital only 40 percent of the income tax collected in the city complies with the Constitution.