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Prime Minister Algirdas Butkevičius says that he opposed a universal tax on real estate.
Lithuanian PM: Universal real estate tax is premature
© K. Cemnolonskio nuotr.

"I believe that the property market is not that much developed in Lithuania. Young families take out loans and build their houses. I really would not like to see those new houses, built from loaned money, to be taxed right away. For the time being, the tax is premature, real income of people is not big enough and we are not planning to increase the tax burden even more to those whose income is low and whose real estate value is low as well," the prime minister said on the radio Žinių Radijas.

The International Monetary Fund has repeatedly recommended that Lithuania introduce a real estate tax.

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