Taxation in Lithuania

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Lithuania’s government proposed slashing income tax in a bid to boost growth, saying on Tuesday it wanted the lowest rates in Baltics and among the lowest in the European Union by 2021.

Mars, Nestle and Orkla are among 10 firms pledging to cut salt, sugar and fat in products in Lithuania, as part of a voluntary agreement overseen by the Ministry of Health which has shelved plans for a sugar tax.

The International Monetary Fund (IMF) has called on Lithuania to consider measures that will shift the emphasis of taxation away from labor and towards wealth.

The Lithuanian Foreign Ministry has filed a complaint with its Russian counterpart, voicing concerns over the controversial Platon truck tax system newly imposed in Russia, regional news website DELFI reported Thursday, citing the BNS news agency.

Having analysed the cases of the tax increase in 2008-2012, the Lithuanian Free Market Institute (LLRI) wondered why the representatives of the Government did into evaluate that the tax increase could lead to the decrease in the tax collection and could be responsible for the lower income in the budget, informs LETA/ELTA.

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