Each year, about half a million Lithuanians give up to 2% of their income tax to non-profits, which amounts to millions of euros. While tax authorities can track who gets the money, they hardly ever scrutinize if it is used for its intended purpose. Occasional inspections reveal, however, that sometimes the funds are used to purchase cars or real estate. […]
Vilnius led the way in the level of taxes it collected per capita at an average of €800 in 2015, a far higher amount than any other Lithuanian municipality, emphasising the gap between the capital […]
More than 70,000 requests for tax redirections to various charities, non-profits and nongovernmental organisations have been submitted in Lithuania this year. According to the State Tax Inspectorate (VMI), the number of requests and recipients has been growing every year. […]
Lithuanians fail to claim millions in income tax exemptions they are entitled to each year. Experts say the reasons might be over-complicated tax declaration system or the fact that people do not know or forget […]
Lithuanian citizens and foreigners must pay for the compulsory health insurance (PSD) only if they are permanently residing in Lithuania, said Lithuania’s State Tax Inspectorate (VMI). […]
Last year Lithuanian corporate profits almost hit the record levels of 2007 with pre-tax profits reaching €4.2 billion or 40% more than in 2014. […]
The Vilnius Tax Inspectorate has filed an appeal against a court ruling in the Labour Party‘s case, asking the Supreme Court to order the guilty persons to pay more than €174,000 euros in unpaid taxes. […]
The State Tax Inspectorate (VMI) has announced that, among the official information it has received from the HSBC Bank’s division in Switzerland about Lithuanian nationals’ bank accounts, the VMI did not find the names of the Prime Minister, nor of any members of the Seimas or of other government members. […]
It has been reported that the State Tax Inspectorate (VMI) has received information about 150 Swiss bank accounts held by Lithuanians in the Swiss branch of one of the world’s largest banks, HSBC. […]
On Thursday 18 February, the European Business Network (EBN) invited Lithuanian lawyer Ernesta Seiliūtė to speak about intellectual property and data protection in Lithuania. Seiliūtė is a lawyer with IPnovus Law, an international law firm specialising in intellectual property. Pirated software and other dubious programs can lead to poor data protection and data breaches, which can be extremely costly for businesses and individuals alike. […]
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. […]
The government has given the go-ahead for Lithuanian tax authorities to start scrutinising Lithuanians’ bank accounts for tax evasion and unaccountable sources of income as the State Tax Inspectorate also announced all citizens had until the end of June this year to declare all gifts and undeclared loans since 2004 used to make purchases of over €15,000 or face a retrospective tax of 15% on the gifts. […]
International companies like Google are making deeper inroads into the economies of the Baltic states, but they still choose to pay taxes in European Union countries with more favourable tax conditions. […]
Orlen Lietuva profits jumped to €217 million last year after a loss of €109 million in 2014 yet the company paid significantly less in taxes Lithuania last year than it did in 2014. […]
About one tenth of all Lithuanian bank accounts will be scrutinised by the State Tax Inspectorate under a new law that requires banks to share information about depositors with tax authorities. […]
Up until now, the only information about foreign real estate held by Lithuanians that state institutions could access was whatever the owners themselves declared, or by initiating an individual inquiry with authorities in another country. […]
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