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Lithuania Considering Various Approaches to Increase Tax Revenue to Fund National Defense

03 May 2024

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Proposed Changes

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Lithuania

The Lithuanian government is reportedly considering different approaches to increase tax revenue in order to fund national defense spending. Proposals include: An increase in the corporate tax rate from 15% to 16%, along with the revision of the progressive income tax rates and the repeal of certain tax reliefs; An increase in the corporate tax rate from 15% to 16% and an increase in the VAT rate from 21% to 22%; An increase in the corporate tax rate from 15% to 17% and an increase in the reduced rate for small companies from 5% to 10%, along with the repeal...