Dabar populiaru
Published: 22 august 2013 09:46

Prime Minister: Lithuania to scrap some tax exemptions

123rf nuotr. / Mokesčiai

The Lithuanian government is planning to eliminate certain exceptions and exemptions in taxation by the start of next year, with respective amendments to be submitted for parliamentary vote along with next year's draft budget, Prime Minister Algirdas Butkevičius says.

"We expect to deal with all those exemptions by the New Year," he told Žinių Radijas radio station.

Butkevičius said that the planned changes would help ensure "greater fairness both in paying taxes and in receiving income from capital and labor".

The prime minister said that the possible effect of those changes was still being estimated.

"Our aim at the moment is to eliminate the so-called tax exemptions, which made it possible for both individuals and legal entities who have accumulated more capital to receive additional income. Labor income is taxed much more heavily than capital income. It was unbalanced taxation," he said.

The current legislation allows not paying taxes on some securities or real estate transactions, Butkevičius notes.

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