Analytics, EU – Baltic States, Financial Services, Legislation, Lithuania, Taxation

International Internet Magazine. Baltic States news & analytics Wednesday, 19.06.2013, 21:36

Experts: introducing taxes proposed by EC not to be of use to Lithuania

Petras Vaida, BC, Vilnius, 02.06.2012.Print version
The Experts of the Lithuanian Industrialists' Confederation are certain that the European Commission's (EC) recommendations to Lithuania, proposing to consider the possibility to increase or introduce taxes least detrimental to the economic growth, such as housing and environmental taxation, will not bring expected benefits to Lithuania.

Analyst Aleksandras Izgorodinas asks to pay attention to the fact that the benefit of the above mentioned taxes is notably small in the whole budget revenue context, writes LETA/ELTA.

 

In order to markedly increase tax revenue and reduce budget deficit, the government should improve the administration of taxes, such as VAT, excise, personal income tax and income tax as well as to consolidate fighting against black economy.

 

Low proportion of the budget revenue and GDP in Lithuania is not due to low taxes but because of the tax evasion, Izgorodinas said.




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