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Saturday, 15.11.2025, 12:13
Degutiene: introduction of taxes on luxury real estate and vehicles would reduce social exclusion in Lithuania
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According to the politician, upon the introduction of new taxes, Lithuania is following other member-states of the European Union (EU), which are now implementing the euro zone saving measures, writes LETA/ELTA.
Degutiene points out that only Lithuania and Cyprus do not have luxury taxes among the remaining EU member-states. The head of the parliament reminded that Sweden applies a 30% tax on interest, Estonian tax reaches 21%, while the UK puts on a 40% tax. The average EU tax on bank deposit interest stands at 25%.
"We are all taking the same path and doing our homework now. Some say that the timing is not right. On the contrary, I believe that the timing is just perfect. If we failed to do that when we had a growing economy (...), then now, at the time of crisis, we have to act urgently, while improvements might come afterwards," Degutiene said.
The politician did not rule out a possibility that luxury taxation criteria might be subject to change in the future.
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