No lower taxes for Lithuanian companies that may incur losses over Russian embargo

Evaldas Gustas
DELFI / Šarūnas Mažeika

“So far we have not discussed such a possibility,” minister of economy told reporters who asked if there were plans to follow the example of Latvia and reduce taxes.

According to the minister, support for food processing companies will take the form of intervention buying of dairy products with long shelf-life. Companies will also be able to make use of entrepreneurship promotion projects and receive support from the European Union.

“I can name the tasks for the Ministry of Foreign Affairs: to carry out more active negotiations on signing bilateral trade agreements with other countries, from which we may re-export production or export our own goods. The Ministry of Communications will intensify work with third countries as well.

“Talking about the Ministry of Economy, there is such structural support measure as New Opportunities, under which 300 applications for LTL 28 million (EUR 8 million) were received. Next Monday the selection board will assess the applications and allocate support to 300 companies that will participate in international exhibitions and conferences. Enterprise Lithuania also evaluates group initiatives, the call for proposals took place and more than 40 company groups sent in applications to attend international exhibitions,” the minister of economy said.

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