New proposal sees tax rise for small business

Proposals considered by the Lithuanian Parliament would raise social insurance contributions that small businesses have to pay into the system and expand benefits for parents.

The parliamentary Social Affairs Committee has endorsed a proposal to raise benefits for parents with children. A stay-at-home parent would be paid 100% of his or her former salary during the first year after a child’s birth and 85% during the second year.

To implement the proposal, the government would need to find additional €140 million.

Related Post

A new bill on social insurance sees expanding the base of payers contributing to the system, including owners of small firms and small farmers who are currently exempt.

The parliamentary committee has also rejected the proposal to introduce a cap on social insurance contributions.

The bills will have to be voted on by the Seimas.

Share

Recent Posts

  • Culture

Lens on Movement: Ukrainian and Lithuanian Photos at Luxembourg’s European Mobility Week

Celebrating the European Mobility Week (16-22 September), the City of Bissen in Luxembourg will present…

3 days ago
  • Economy

Lithuanians will have to open their wallets even wider: goods and services will become more expensive

According to TV3.lt, Swedbank economists raise their GDP growth forecast for Lithuania and believe the…

1 week ago
  • Economy

Janulevičius. Lithuania’s economy looks better than Estonia’s or Latvia’s, but we shouldn’t be happy about it

From Q1 2022 onwards, Estonia has been in a prolonged recession. Yes, we also had…

2 weeks ago
  • Tribune

EMBank’s earnings for the first half of 2024 have increased by over 50%

European Merchant Bank (EMBank), a provider of financial solutions to small and medium-sized businesses, has…

2 weeks ago
  • Latest

Resorting to anger when it should be apologising: experts on Gabrielius Landsbergis

As the debate on the Landsbergis' assets continues in the public sphere, political analysts are…

3 weeks ago
  • Economy

Preliminary housing purchase contract – what not to be afraid of and what to check before signing

A preliminary contract is usually signed when buying a new dwelling directly from the developer…

1 month ago