Lithuania’s Prosecutor General’s Office and the Financial Crime Investigation Service (FNTT) are conducting a probe into alleged illegal activities by Vilniaus Prekyba, one of Lithuania’s biggest business groups, and its shareholders, including Lithuania’s richest businessman, Nerijus Numavičius. Numavičious assets are worth an estimated €1.3 billion. […]
The Lithuanian parliament’s Anti-corruption Commission has turned to the minister of finance, asking for clarification about public procurement contracts of the State Tax Inspectorate (VMI). […]
Real estate tax collection and revenues will be handed over to municipalities to encourage them to implement the taxes more stringently under new proposals from Finance Minister Rimantas Šadžius. […]
The Ministry of Finance has proposed an overhaul of Lithuania’s State Tax Inspectorate (VMI), cutting the number of regional divisions in half. […]
The move of billionaire Nerijus Numavičius, Lithuania’s wealthiest person, to the UK has raised questions about how the tax agreements between the two countries, designed to avoid double taxation, will apply in Numavičius’ case. […]
This year’s World Economic Forum in Davos will focus on the next wave of innovation, but are Lithuanian politicians ready to embrace new opportunities and give up unnecessary regulations, asks economist Rūta Vainienė. […]
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). […]
Lithuanian nationals who own real estate in other European Union countries might have to explain its provenance to tax authorities. […]
Finance Minister Rimantas Šadžius says that 2015 was a breakthrough in tax collection for Lithuania and that extra revenue is projected for 2016. […]
Lithuanian President Dalia Grybauskaitė submitted a bill aimed at curbing the shady donations from state and municipality controlled companies, preventing waste of money and ensuring more transparency. […]
Lithuanian citizens, who are allowed to allocate 2 percent of their income tax for organizations of their choice, have distributed 15m euro this year, benefiting some 22,000 institutions and NGOs. The biggest beneficiary this year is the Lithuanian army. […]
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. […]
In 2015, people more actively donated to the Lithuanian army by transferring 2 percent of their personal income tax. The number of such contributions has increased seven times. […]
The private holding company Vilniaus Prekyba UAB, one of the largest Lithuanian groups of private companies and owner of the international retail chain Maxima, has rejected reports in the media that the company is using tax evasion schemes. […]
The State Tax Inspectorate of Lithuania is carrying out several investigations over the tax and property declarations of several high-ranking politicians from the ruling coalition. […]
Lithuanian President Dalia Grybauskaitė made her annual State of the Nation address at the Lithuanian parliament, Seimas, on Thursday. In her speech, the president mostly focused on national defence, security challenges stemming from Russia‘s aggressive policies, as well as emigration of working-age population. Grybauskaitė also stressed the need to work more on addressing social issues, particularly in childcare institutions. […]
The Germany-based Klasmann-Deilmann Group has announced EUR 11 million worth of investments in Klaipėda County, Lithuania. The company is to build a further state-of-the-art production line for manufacturing peat products and growing media for the worldwide commercial-horticulture sector. Its intended expansion of an existing factory at the Šilutė site includes plans for high-performance mixing, screening and packing facilities, a research laboratory and an experimental greenhouse for product development. This will involve the creation of at least 20 new jobs over the next three years. […]
Member of the Lithuanian Social Democratic Party political group, MP Bronius Bradauskas, has voluntarily stepped down as chairman of the Parliamentary Committee on Budget and Finance. […]
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