2023.03.16 12:03

Lithuanian Finance Ministry to unveil tax reform package next week

Valdas Pryšmantas, BNS 2023.03.16 12:03

The government’s proposed tax reform package is likely to be unveiled next week, Finance Minister Gintarė Skaistė said on Thursday.  

“We will likely present the whole package to the public next week after the final adjustments have been made to reflect comments from the coalition partners,” she told reporters.

Skaistė did not comment on recent reports that the Finance Ministry proposes to introduce a new personal income tax rate and said that the MPs who leaked the information should take responsibility.

The information about the proposed tax changes was confirmed to BNS late on Wednesday by several members of the Freedom Party’s political group in the Seimas.

According to the MPs, the reform package includes a new 25 percent tax rate for employment-related income.

The rate would apply to a person’s annual income of between 60 and 120 average wages. Lower and higher income would continue to be taxed at the current rates of 20 percent and 32 percent, respectively.

The minister said that not all the information published in the media is accurate.

“I believe that the whole package has to be made public [...] so that all the pros and cons and all aspects can be seen, which is a more correct thing to do than picking out individual laws,” Skaistė said on Thursday.

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