DELFI / Karolina Pansevič
“At this point, it is impossible, because there are only several tens of thousands of people making very big salaries,” Butkevičius told the business daily Verslo Žinios.
Lithuania currently has a flat personal income tax of 15%, although deductions for lower-income earners apply.
Butkevičius said that progressive taxation would disadvantage the middle class.
“If we introduced progressive tax, disposable income of the middle class would be cut. In order to have low-earners feel a real rise in their income, we have introduced some progressivity through tax deductions which were raised this year,” Butkevičius said.
This January, the tax-exempt minimum level of income was raised from €166 to €200. Additional exemption for parents with small children was raised from €60 to €120.
As the Seimas elections approach, more parties, especially opposition parties, promise to change their foreign…
Prices in Lithuania decreased by 0.5% over the month, but annual inflation is again approaching…
Rokas Masiulis, the Head of the electricity transmission operator Litgrid, was one of the energy…
Massage chairs have long surpassed their initial functionality, evolving technologically to help reduce environmental impact.…
Russia has always been Europe’s enemy. This is something that many of our Western and…
The Lithuanian start-up Inion Software, a company offering innovative renewable energy monitoring solutions, which had…