aA
Lithuania's government will next year discuss the possibility of reducing the value-added tax (VAT) tariff, Prime Minister Saulius Skvernelis told Verslo Žinios business daily.
Saulius Skvernelis
Saulius Skvernelis
© DELFI / Karolina Pansevič

"Even this year I have repeatedly made suggestions to the Finance Ministry to discuss the possibility of lowering the general VAT tariff by at least one percentage point. However, risks of the step are significant. Therefore, we have agreed to next year look at the possibility of lowering the VAT tariff in 2019-2020, after we had implemented the current proposals on tax system reforms," the prime minister told the daily.

The 21-percent VAT tariff was established back during the financial crisis in an effort to ensure additional budget revenue, which were necessary to cut the fiscal deficit and ensure financial stability until the end of the downturn. Then government of Andrius Kubilius said that the VAT tariff would be only raised temporarily until the end of the financial crisis.

|Populiariausi straipsniai ir video

airBaltic plans to resume flights to London, Dublin and Dubrovnik but has no permits yet

Latvian airline airBaltic says it plans to resume flights from Vilnius to London and Dublin in...

Lithuanian company offers solution for international control of coronavirus test and vaccine

After the global coronavirus pandemic began in Wuhan it has affected people all over the world....

Avia Solutions Group to sel Baltic Ground Services Poland

Avia Solutions Group , the largest aerospace business group from Central & Eastern Europe, has...

Paysera has new vice president for development abroad

Starting June 1, Marius Pareščius , IT expert, businessman, and innovator, will be responsible for...

Palanga airport set to reopen with 1st flight since lockdown

Hungary's Wizz Air is on Tuesday relaunching its regular service between Palanga and Dortmund,...

Top news

Free movement between Poland and Baltics to be restored next week

Free movement between Poland and the Baltic states will be resumed next week, Lithuanian Prime...

Candidates list of social democrats for upcoming Seimas election approved

The presidium of the opposition Social Democratic Party of Lithuania on Thursday approved the...

airBaltic plans to resume flights to London, Dublin and Dubrovnik but has no permits yet

Latvian airline airBaltic says it plans to resume flights from Vilnius to London and Dublin in...

7 new coronavirus cases in Lithuania

On Thursday, Lithuania has detected 7 new coronavirus cases. Overall, there have been 1694 COVID-19...

Foreign minister: EU's external borders unlikely to open until late June

The European Union 's external borders may remain closed until late June, Lithuanian Foreign...

|Maža didelių žinių kaina