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European Commission (EC) Vice-President Valdis Dombrovskis has stated in Vilnius that Lithuania should give up some value-added tax (VAT) privileges amid projected growth of state spending, as well as improve the collection of VAT and residents' income tax. He also stressed the substantial progress made by Lithuania in the implementation of earlier EU recommendations
A wallet
A wallet
© DELFI / Šarūnas Mažeika

"The majority of European Union members have made some or limited progress, while Lithuania looks rather well in the context of European Union nations," Dombrovskis, who is in charge of the euro, social dialogue, financial stability, financial services and capital markets, said at an international conference in the Lithuanian capital on Friday.

In his words, income inequality in Lithuania is among the biggest in the EU, and the gap could be bridged by a more efficient tax privilege system.

"We hope that the new government takes our recommendations into consideration," said Dombrovskis, noting that the EC would issue new recommendations for Lithuania in May.

Commending the progress made by Lithuania with earlier EU recommendations, the EC official said that the government had cut taxes for people with the lowest income, made progress in boosting innovations and productivity, as well as improvement of skills. Dombrovskis also hailed the Lithuanian efforts of using alternative financial instruments.

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