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Friday, 19.04.2024, 14:28
Lithuanian parliament approves tax reform
BC, Vilnius, 29.06.2018.
Print version
Print versionThe Lithuanian parliament approved on Thursday a tax reform that provides for consolidating labor-related taxes on their employee side, introducing two personal income tax rates, of 20% and 27%, and increasing the tax-free income threshold and broadening its application, informs LETA/BNS.
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The respective amendments to the Law on Personal Income Tax were passed in a vote of 75 to five with 12 abstentions.
The opposition Homeland Union–Lithuanian Christian Democrats political group in the Seimas did not participate in the vote and asks the president to veto the bill.
The government says that the reform aims to reduce the labor tax burden on people. Critics say, however, that the changes fail to address the fundamental problem of high social inequality.
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