Lithuanian PM names fight against shadow economy among the country's biggest challenges

  • 2015-05-08
  • from wire reports and TBT staff, VILNIUS

On 7 May, introducing the government's annual activity report for 2014 to the Seimas (Lithuanian Parliament), the country's Prime Minister Algirdas Butkevicius said the fight against the shadow economy must be faster and smarter - and mentioned that this is an area where the new smart tax administration system can come into play.

"Determined decisions of the Government produced tangible financial results in the fight against the shadow economy," the PM said, according to the Seimas's press service. According to him, last year diesel fuel sales rose by almost one-fifth and the budget revenue was also higher due to more effective collection of excise duty. Even so, the government needed to be faster, more discerning and more inventive when it comes to the fight against the shadow economy, Butkevicius said.

In his speech, the PM highlighted the decision to transform the entire system of business supervision in order to shed more light on the functions of the stakeholders and reduce the high number of inspectors. Among the important tasks ahead, he listed reform of the childcare system, export diversification, reform of the heat and power systems, renovation of the residential stock, energy projects, and the organisation of a meaningful celebration for the 100th anniversary of Lithuania, as well as the creation and implementation of a new social model.