Lithuania has the 4th most competitive tax system among member countries of the Organization for Co-operation and Development, the latest figures from the US think-tank Tax Foundation show.
Eurai
© Shutterstock

Among 36 OECD countries, Lithuania is only behind Estonia, New Zealand and Latvia.

Lithuania's strengths include the facts that business investments in machinery, buildings, and intangibles receive better-than-average tax treatment; Lithuania's corporate tax rate is 15 percent, well below the OECD average of 23.6 percent; and Lithuania's taxes on labor are relatively flat, allowing the government to raise revenue from taxes on workers with very few distortions.

Lithuania comes in third in terms of corporate taxes and individual taxes, 7th in terms of property taxes, 17th in terms of international tax riles and 24th in terms of consumption taxes.

Switzerland, Luxembourg, Australia, Sweden, The Netherlands and the Czech Republic also got into the Top-10.

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

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...