aA
The scope of shadow economy has visibly decreased over the past decade in Lithuania, Finance Minister Vilius Sapoka says as it has become fashionable to pay taxes.
Vilius Šapoka
Vilius Šapoka
© DELFI / Karolina Pansevič

"There are many ways to calculate that size of the shadow economy, but irrespective of the calculation methods, the tendencies are clear (…). We see that the shadow economy has shrunk 10 percent in Lithuania over the past decade," Sapoka told a conference on shadow economy on Tuesday.

In his words, the fact that the VAT obligation has been rising faster then consumption since 2017 also points to a shrinking shadow.

"We see a sudden surge since 2017, with VAT obligation rising way faster than consumption. In other words, the shadow is shrinking," the minister said.

Based on his presented figures, VAT collection rose 8.5 percent last year, and consumption grew 6.3 percent.

"When I said earlier it should be fashionable to pay taxes, there was a lot of laughter. But now I think it has become fashionable to do so. (…) I think the situation is changing and we need to thank the people of Lithuania for that," Sapoka added.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
|Populiariausi straipsniai ir video

Employers advised to organize work remotely if possible

The Lithuanian National Public Health Center recommends that employers organize work remotely where...

Ryanair launches new route from Vilnius

Low-cost carrier Ryanair announced a new Vilnius route to Leeds Bradford, flying three times per...

Tighter checks at Lithuanian-Belarusian border push up haulers' costs

Lithuanian haulage companies are facing delays and increased costs after Belarus has stepped up...

Palanga Airport is preparing for reconstruction: runway and parts of apron to be renewed

Palanga Airport is preparing for an important reconstruction in the autumn of 2021, as the runway of...

Skvernelis sees EU's proposed emission cut target as achievable (1)

The European Commission 's proposal to cut greenhouse emissions in Europe by 55 percent by 2030 is...

Top news

Employers advised to organize work remotely if possible

The Lithuanian National Public Health Center recommends that employers organize work remotely where...

Lithuania may need over EUR 100 mln to buy coronavirus vaccines (1)

Lithuania may need over 100 million euros to purchase COVID-19 vaccines , the country's prime...

Tighter checks at Lithuanian-Belarusian border push up haulers' costs

Lithuanian haulage companies are facing delays and increased costs after Belarus has stepped up...

45 new coronavirus cases

On Monday, 45 new COVID-19 cases were confirmed in Lithuania . Overall, 3859 coronavirus cases have...

Ryanair launches new route from Vilnius

Low-cost carrier Ryanair announced a new Vilnius route to Leeds Bradford, flying three times per...

|Maža didelių žinių kaina