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“No new taxes,” says Butkevicius

  • 2014-05-06
  • From wire reports, VILNIUS

There are no plans to introduce new taxes in Lithuania from 2015, assured Prime Minister Algirdas Butkevicius, reports ELTA. "As for new taxes, this year we do not plan any," said Butkevicius after the meeting with Commissioner for Taxation, Customs, Statistics, Audit and Anti-Fraud Algirdas Semeta on Monday, May 5.

At present the European Commission (EC) is carrying out an assessment of Lithuania's tax system and preparing recommendations on tax system reforms. The document will be published on June 2.

"Today it is too early to provide more details on the proposals of the EC; however, analysis conducted by the EC and the International Monetary Fund pay attention to the issue that seeking to retain the economic model (..) typical to the European Union in Lithuania, it is necessary to look for solutions to balance a share of revenue and spending," said Semeta.

Next year the State Tax Inspectorate, which administers taxes in Lithuania, will be subject to fundamental changes. From the beginning of 2015 this institution will restructure its activities based on Portugal's model.

"Next year we should begin and, maybe, we will manage to implement a brand new tax administration system, which is adopted by Portugal. In Lithuania it will be even more modern," said Butkevicius.