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. […]
Neringa, the municipality located on Lithuania’s picturesque Curonian Spit, has become a Mecca for the country’s rich and famous. However, second home owners, who spend most of the year in Vilnius and other major cities, are a mixed blessing for the beautiful region. […]
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. […]
This January, the national budget and municipal authorities collected 2% (€12.1 million) more tax revenue than planned and 7.1% (€41 million) more than in the same period last year, according to the preliminary data of the Ministry of Finance. […]
A reduced value-added tax (VAT) rate should apply to basic food products, according to a new bill being proposed by a Labour Party MP. […]
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. […]
Lithuania will not introduce progressive taxation because there are too few high-earners, according to the country’s social democrat Prime Minister Algirdas Butkevičius. […]
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). […]
Increased efforts to tackle tax evasion and the black market led to a significant increase in tax revenues for the Lithuanian government in 2015, according to Prime Minister Algirdas Butkevičius. […]
After the Constitutional Court approved a change to real estate tax codes last fall, real estate tax revenue dipped by a third from more than €1.5 million to half a million. […]
Lithuania’s Social Democratic Party needs to run on a truly social democratic platform, centred around a reformed and fairer tax system and social services in this year’s elections ,according to European Commissioner Vytenis Andriukaitis. […]
The Seimas, the Parliament of Lithuania, has rejected the initiative to introduce progressive taxation. […]
The Lithuanian parliament will discuss a proposal of Deputy Parliament Speaker Algirdas Sysas, a social democrat, that employers who pay their employees below minimum wage be made to pay higher contributions to the Sodra, the social insurance system. […]
The level of VAT revenue collected in Lithuania is well below that which could be collected, the European Commission has said. […]
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