taxes

Prime Minister Gintautas Paluckas estimates that US tariffs on the European Union will have little influence on Lithuanian companies. He notes that tariffs will not apply to half of goods exported by Lithuania

The Government is offering a EUR 20 million assistance package to mitigate the impact of the new US tariffs on businesses, the minister of the economy and innovation has said.

The Ministry of Finance has presented the planned tax amendments to the coalition government. Proposals include a tax on sugary drinks, non-life insurance contracts, expanded real estate taxation and more progressive income taxes.

The United States’ 25% import tax on the European Union (EU) could lead to a 0.5 percentage-point drop in Lithuania’s gross domestic product (GDP), the head of the Lithuanian Confederation of Industrialists (LPK) warns.

As US President Donald Trump vows to impose 25% tariffs on the European Union, Lithuanian Prime Minister Gintautas Paluckas told the media that before estimating any impact it must be ascertained which goods or services would be taxed.

Taxes may be raised to boost defence spending to 5-6% of gross domestic product (GDP), says MP Giedrimas Jeglinskas, chair of the Seimas Committee on National Security and Defence (NSGK).

More than 4.1 thousand businesses are indebted EUR 60.6 thousand in total to the State Tax Inspectorate (VMI) at the end of this year, Verslo žinios reports.

Numbers of foreign nationals working in Lithuania as self-employed and avoiding taxes have been increasing in the recent years. The most frequent jobs where immigrants shirk the financial responsibility appear to be those of taxi drivers and courriers, lrt.lt news website reports, citing data from t...

Even experts who generally agree on other issues may hold differing views on cryptocurrencies. In Lithuania, over 500 companies are involved in the cryptocurrency sector. One of them is Binance, the world’s biggest crypto exchange. Its Lithuanian subsidiary, Bifinity, was established in May 2020. In...

Lithuanian residents have donated more than EUR 16,000 to the Defence Fund in four days since its launch on 1 October. Minister of Finance Gintarė Skaistė notes that the Defence Fund will primarily rely on revenue from taxes, while donations and defence bonds will be an additional source of revenue.

Ukrainians employed in Lithuania have paid a total of EUR 65.2 million in taxes to the state budget in the first seven months of this year, a 25% increase from the same period in 2023, the Ministry of Social Security and Labour said Tuesday.

Representatives of the shareholders of five of Lithuania’s largest banks – Citadele, Luminor, OP Corporate Bank, SEB and Swedbank – met with Prime Minister Ingrida Šimonytė on Wednesday to express their concerns about recent tax decisions taken in Lithuania and changes in the country’s investment en...

President Gitanas Nausėda would support a tax hike in order to increase defence spending provided that taxation would be progressive, says his chief adviser Frederikas Jansonas. He reiterated that the head of state opposes a raise of the value added tax (VAT) as it would disproportionately affect th...

Minister of the Economy and Innovation Aušrinė Armonaitė says the value added tax (TAX) rate should not be raised in order to increase defence funding.

Leader of the party Democrats For Lithuania, Saulius Skvernelis, implies that affluent people should pay higher taxes and contribute more to the country’s defence this way.

On Wednesday, eight umbrella organisations uniting more than 1,000 Lithuanian NGOs and trade unions addressed governmental bodies urging politicians not to delay the tax reform and to implement wider systemic changes. The written address calls for adequate funding of public services that would help ...

The opposition Social Democrats expect the ruling parties to take their proposals on board in next stages of debating the tax reform legislation, the party leader says.

Members of the opposition groups in the Seimas are requesting an expert assessment of the legal regulation of the tax reform, ELTA was told by the chair of non-attached MPs.

As Lithuania's public debt is growing due to the coronavirus crisis, the country might need to raise some taxes in the futures. Their burden wouldn’t be as heavy on residents and the economy if the economic structure changed, Lithuanian Finance Minister Vilius Sapoka says.

The new taxes for major retailers and banks, proposed by the ruling parties in Lithuania, could be introduced in the middle of the next year at the earliest, Rima Baskiene, a deputy speaker of the Lithuanian parliament, says.