tax

The Social Democratic Party (LSDP) will not support the Bank of Lithuania’s proposals to raise personal income tax in order to increase defence funding. LSDP leader Vilija Blinkevičiūtė believes that the current coalition should have adopted a tax reform in order to secure additional funding for def...

More than 54% of Lithuanians oppose a proposal to introduce a universal defence tax as of 2025, a public opinion poll commissioned by the LRT public broadcaster finds.

President Gitanas Nausėda believes the current Seimas is able to adopt a defence tax, which would be a more sustainable way of financing defence needs than borrowing set out in the annual budget.

Lithuania's new government is planning to review all existing tax incentives, including the excise tax discount for diesel fuel used by farmers, Finance Minister-designate Gintare Skaiste said on Tuesday, noting that the state loses at least 2 billion euros in budget revenue annually because of the ...

Nordic-Baltic business law house Fondia prepared an analysis of government aid for business and individuals in several countries. It turned out that state aid for economy correlates directly with the tax burden, calculated as a percentage of general domestic product (GDP), the company writes in a pr...

Major business organizations are withdrawing from the national agreement on reforms, signed with the government two years ago.

In its opinion on the Lithuanian parliament's decision to impose an additional tax on profits of banks and credit unions, the European Central Bank (ECB) recommends carrying out a comprehensive impact assessment regarding the tax.

Lithuania is set to introduce next July a tax that will be charged on polluting passenger cars every time they are registered or reregistered in the country.

The Lithuanian government's proposed tax on major retailers' turnover will inevitably raise prices and will negatively affect the country's economy, a new survey shows.

Lithuania's government is leaning towards "burying" the planned banking asset tax and is proposing introducing an additional 7 percent corporate tax for banks, brining the total corporate tax for them to 22 percent.

Lithuania's national road carriers' association LINAVA is staging a protest in Vilnius on Wednesday to pay attention to the government's decision to increase the tax rate on daily allowances of posted drivers.

Lithuania must inform the European Commission about its plans to introduce a turnover-based tax on major retailers next year, EuroCommerce, the main European body for the retail and wholesale sector, has said.

The leader of Lithuania's ruling Farmers and Greens Union expects new taxes on bank assets and major retail chains to be introduced in January and the property tax threshold to be lowered to 150,000 euros.

Lithuania's key business organizations say politicians are violating the national agreement signed two years ago and stipulating that the government would not increase the general tax burden for the business sector.

The Lithuanian parliament decided on Tuesday not to debate – at least not for now – a proposal to tax more than 300 million euros' worth of assets of banks, credit unions and other lenders.

The Lithuanian Cabinet approved on Wednesday a new tax aimed at encouraging people to buy less polluting cars and facilitating the renewal of the country's ageing vehicle fleet, Environment Minister Kestutis Mazeika said.

A proposed tax on banking assets is estimated to bring in 40 million euros in extra annual budget revenue, well below the publicly discussed amount of 100 million euros, the Lithuanian Farmers and Greens Union's leader Ramunas Karbauskis said on Wednesday.

Lithuania's ruling coalition is ready to support a move to tax banking assets, Ramunas Karbauskis, the leader of the Farmers and Greens Union, the biggest party in the parliament, has said.

Tax changes always face resistance, Lithuanian President Gitanas Nauseda said on Friday in response to representatives of the ruling coalition's criticism of his proposed tax changes.

After the Electoral Action of Poles in Lithuania – Christian Families Alliance joined the ruling coalition in Lithuania, more and more possibilities arise to implement the party's plans to tax assets of commercial banks, the Verslo Zinios business daily writes.