"Based on the latest estimates, 1.1 billion euros in budget revenue was not collected in 2017 due to the VAT gap," she said during a conference at the Seimas.
According to Simonaityte, Lithuania uses 36 tools to combat the shadow economy, compared with 35 in Latvia, 20 in Poland, 13 in both Estonia and the Czech Republic, and just eight in Sweden.
Surveys by Sprinter and the European Commission's estimates show that Lithuania's shadow economy accounted for around 24 percent of GDP in 2018, about one-third higher than the EU average, Simonaityte said.
The shadow economy declined by 1.5 percent last year compared with 2017, she said.
The Lithuanian government expects to pull 200 million euros out of the shadow economy in 2020.
Self-employed people mull alternatives as taxation changes loom
With Lithuanian authorities considering converging the taxation of self-employed and salaried...
Finance minister: shadow economy visibly shrinks in country
The scope of shadow economy has visibly decreased over the past decade in Lithuania, Finance...
Latest EU study: three out of four Lithuanians work at small and medium-sized enterprises
Small and medium-sized enterprises (SMEs) create three out of four jobs in Lithuania and that is 10 %...
Vasiliauskas calls on MPs to turn to ECB over banking tax
Vitas Vasiliauskas , board chairman of the central Bank of Lithuania , has called on lawmakers to...
Fake or true: your coffee might contain grounded cockroaches (1)
In past months some global media shocked their readers by claiming that grounded coffee might...
Nauseda: state bank shouldn’t be taboo
The existing situation in the Lithuanian banking market makes one to start thinking about the...
Lithuania not considering 'century bond' yet
The Lithuanian Foreign Ministry sees no need for issuing ultra-long debt yet, but might consider...
Cabinet backs retail and bank taxes
The Lithuanian Cabinet on Wednesday backed in principle new taxes on bank assets and retail...