China, EU – Baltic States, Internet, Lithuania, Markets and Companies, Technology
International Internet Magazine. Baltic States news & analytics
Friday, 29.03.2024, 09:36
Lithuanian retailers lose EUR 142 mln due to e-trade with third countries
An additionally-generated turnover of 142 million euros, lost due to trade with third countries, would have allowed creating additional 1.574 jobs.
Traders are making use of regulatory loopholes to avoid taxes by declaring a lower value of a good than it is in reality, Titas Budreika, an expert of ESTEP, said.
"Being aware of certain tax concessions are taking legal and illegal steps, for example, by declaring a good's lower value than it is in reality, to make use of the existing concessions," Budreika told a press conference on Thursday. "Due to the existing concession, the state budget is losing revenue, and this way uneven competition conditions are also created."
All EU countries are facing the same problem, he said. The European Commission estimates that members states lose around 7 billion euros due to trade with third countries.
The majority of foreign parcels Lietuvos Pastas (Lithuanian Post) received last were arrived from China, making 64% of the total.
- 28.01.2022 BONO aims at a billion!
- 26.08.2021 LLC Dizozols Investments finalizes investment attraction deal with Crowdestor with record-high profits
- 30.12.2020 Накануне 25-летия Балтийский курс/The Baltic Course уходит с рынка деловых СМИ
- 30.12.2020 On the verge of its 25th anniversary, The Baltic Course leaves business media market
- 30.12.2020 Hotels showing strong interest in providing self-isolation service
- 30.12.2020 EU to buy additional 100 mln doses of coronavirus vaccine
- 30.12.2020 ЕС закупит 100 млн. дополнительных доз вакцины Biontech и Pfizer
- 29.12.2020 В Латвии вводят комендантский час, ЧС продлена до 7 февраля
- 29.12.2020 Latvia to impose curfew, state of emergency to be extended until February 7
- 29.12.2020 Linde Gas открывает завод в Кедайняйской СЭЗ