State Tax Inspectorate

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).

In an effort to fight tax evasion, Lithuania's Finance Ministry wants to have banks share data on all account holders who have over €5,000 in their accounts.

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 ill...

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.

Shareholders of VP Group, which owns Lithuania's biggest grocery store chain 'Maxima', have become targets of national tax authorities who suspected large-scale tax evasion.

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...

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 intend...

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.

Amendments to the Law on Public Service have been submitted to the Seimas (parliament) on the initiative of President Dalia Grybauskaitė. The amendments seek to prevent public servants from signing additional work contracts with their own employers, to prevent them from cashing-in on public service ...

After Lithuania adopted the euro, the number of millionaires - i.e., people with assets of over one million - in the country has gone down ten times.

Lithuania's State Tax Inspectorate (VMI) has said that fraudsters pretending to work for the VMI have started visiting residents' houses, offering a "money inventory" service.

Several vets have been punished in Lithuania and a number of investigations into breeders' activities have been launched in response to reports by a UK non-governmental organization about alleged illegal dog trade.

People in Lithuania have donated over 44.254 million litas (EUR 12.69 million) to various organizations and political parties since 2013, the latest figures by the State Tax Inspectorate show.

When Russia imposed import bans in the past, traders successfully diversified their sales, shows the analysis carried out by the State Tax Inspectorate (VMI).