The recommendations submitted to Lithuania by the European Commission are largely the same as they’ve been over the last few years, pointed out Swedbank economist Nerijus Mačiulis. According to him, this shows that Lithuania’s reforms […]
While waiters at restaurants and cafes in Lithuania receive part of their remuneration in tips, taxing this part of income is a grey area. A new legislative proposal would make tips subject to income tax. […]
The Social Democrats proposal to reduce VAT for fresh and chilled meat to make it more affordable has been criticised by the opposition and economists. But is it a credible proposal? “They are now aiming […]
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 […]
Lithuanian President Dalia Grybauskaitė has criticized the government’s suggestions to cut VAT rates on some foodstuffs in order to rein in prices. The measures will benefit retailers, not consumers, the president believes. […]
VAT cuts are not the best way to rein in rising food prices, says the Lithuanian president’s top adviser. […]
A number of Lithuanian entrepreneurs are pushing for Lithuania to adopt Estonia‘s approach to taxation to stop a flight of companies from the country to its Baltic neighbour. “Income tax administration in Lithuania both for […]
The Lithuanian government is planning to raise tax-exempt income levels again next year, following a hike this January. […]
Lithuania’s Labour party are proposing to cut VAT on basic food products from 21% to 5% under new proposals. “We propose to reduce VAT from 21% to 5% to food products: bread, fresh meat, fish, […]
From the first of May all consumers will have to pay more for purchases from non-European Union countries. On May 1, 2016, the new EU Customs Code will enter into force and the new code […]
Lithuania’s taxation system is conducive to social inequality with a disproportionate burden falling on labour income, and taxes on capital half that of the European Union average, according to leading economists. […]
Tax revenues collected by the Lithuanian state and municipalities were up 5.7% in the first quarter of 2016. State and municipal budgets collected 2.6% (€42.7 million) more revenue than projected and 5.7% or €90.5 million […]
Businessman Nerijus Numavičius, Lithuania’s richest man, has officially become a taxpayer in the United Kingdom, where he resides, and can choose which country gets his tax money, 15min.lt reports. […]
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 […]
Lowering the value-added tax (VAT) rate for all goods and services would be preferable to exemptions on select products, like food, Lithuania’s Finance Minister Rimantas Šadžius. […]
The Lithuanian government could collect more revenue from the value-added tax (VAT) by lowering the rate and thus cutting the black market, according to a SEB Bank economist. […]
The Electoral Action of Poles in Lithuania (EAPL), a political party representing Lithuania’s Polish minority, has suggested implementing new taxes on bank assets and major retail chains’ turnover based on similar moves in Poland. […]
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. […]
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