Lithuania ranks above Germany, Belgium and Poland in a new PwC study, “Paying Taxes 2013″, although its ranking fell slightly from 57 to 60 place, informs Invest Lithuania.
Lithuania ranks above Germany, Belgium and Poland in a new PwC study, “Paying Taxes 2013″, although its ranking fell slightly from 57 to 60 place, informs Invest Lithuania.
In the period reviewed, the number of tax payments and time expended on tax liabilities in Lithuania remained steady and the aggregate tax tariff fell by 0.2 percentage points, compared with the previous year, but even more substantial reductions of tax pushed Lithuania down a bit.
In the Baltics, Lithuania lags behind Estonia, which ranks 50th (down from 47th) and Latvia (52nd, up from 62nd). Lithuania‘s tax arrangements are still ahead of the countries in Europe like Austria, Belgium, Germany, Portugal, Slovakia and Slovenia. The Czech Republic, Hungary, Romania, Italy and Poland are not even in top 100.
An aggregate tax tariff, applicable to an average company in Lithuania, is 43.7 per cent, which is above the European Union and EFTA average (42.6%), but is lower than the world average (44.7%). Lithuania is behind the neighbouring Latvia with 33.6%, while in Estonia the aggregate tariff is much higher than in Lithuania and stands at 67.3%. The study says that in Lithuania an average company spends less time on tax administration and payment, only 175 hours, than in Europe on average (184 hours) and in the world (267 hours). In Latvia, it takes much longer – 264 hours. In Estonia this time expended is as short as 85 hours.
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