Viciunai Group may drop Hilton project if VAT privilege is scrapped

  • 2017-06-14
  • BNS/TBT Staff
Elimination of the VAT privilege for hotels, planned for 2018, may halt investments in the sector in Lithuania. Viciunai, a leading Lithuanian food group that is owned by Kaunas Mayor Visvaldas Matijosaitis, has already announced plans of halting the Hilton construction project in Vilnius, while other investors have not discarded their plans on new hotels, Verslo Zinios business daily said. "Design and other preparatory work is in progress, however, if the administration raises the VAT for hotels significantly, we will have nothing else to do than halt the project,&q...
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