The black market is the reason for skyrocketing consumer prices in Lithuania, according to the country’s Finance Minister Rasa Budbergytė. “The reason [for high prices] is definitely not the adoption of the euro,” she said […]
Data gathered by SoDra, the state social insurance administrator suggests that wages in Lithuania may be moving from the black market The data indicates that the state manged to moved up to €68 million in […]
The black economy in Lithuania is estimated to be worth more than €9 billion, or more than one billion euros more than the country‘s budget this year, which includes EU funding and other international supports. […]
The government has begun its annual campaign to raise public awareness about the country’s problems with the black market economy. This is the fifth year that this campaign is held. […]
The black market in Lithuania shrank by 1% in 2015 to 25.8% and shrank by 5% over the last decade (from 31.1% in 2005). Currently, Lithuania’s black market is smaller than Estonia’s (at 26.2%). However, […]
More than a quarter of Lithuania’s economy still exists on the black market, according to the Lithuanian Free Market Institute‘s research into the country’s shadow market. The research found that Lithuania’s black market was found […]
Almost every third Lithuanian claims to know someone who has recently received illegal income. However, two thirds of Lithuanians believe that the State Tax Inspectorate (VMI) should not have access to people’s bank account balances in order to fight tax evasion, a survey by Spinter Tyrimai shows. […]
The number of Lithuanians being able to buy property purely in cash has been steadily multiplying in the last few years – in fact it is hard to imagine how many Lithuanians have been buying a home or apartment using cash – but such luxurious purchases may now have serious consequences. […]
Seimas Speaker Loreta Graužinienė has said she opposes recent proposals to have all commercial banks share information about account holders with the State Tax Inspectorate (VMI). […]
Fewer businesspeople in Lithuania think underground economy is a problem than a year ago. However, Lithuania has a far bigger black market than the Central and Eastern European average, research shows. […]
Last week, the Lithuanian government published a report on efforts to fight the black market. The government says inspectors have uncovered transactions worth over half a billion euro. Unfortunately, there are still areas relatively immune to anti-black-market efforts, the chief among them being illegal letting of apartments. […]
Flourishing black market in Lithuania can be reduced with properly chosen and implemented digital solutions, experts claim. […]
Illicit cigarettes last year accounted for 28.3 percent of Lithuania’s market of tobacco products, the second highest rate in Europe after Latvia’s, according to the latest study by the international audit, tax and consulting company KPMG. […]
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