aA
Lithuanian President Gitanas Nauseda says he plans to propose to the country's parliament in the fall to introduce a flat residential income rate for all types of income, and to apply different rates based on its size.
Gitanas Nausėda
Gitanas Nausėda
© DELFI / Šarūnas Mažeika

"There are many proposals, and they include economic issues, like, for example, taxing residential income not based on its origin but based on size since work-related income and capital income are of similar nature, therefore, they shouldn’t be taxes with special rates for one of the other," Nauseda told the DELFI Demesio Centre program on Tuesday.

"I could hardly say today that capital is more expensive than work as there's a widespread lack of workforce. Therefore, labor taxation should be fair," he said.

The president said he would propose canceling some tax credits and halting the initiative of raising the size of non-taxable income and use the freed-up funds to step up pension increases.

The Seimas of Lithuanian will start its fall session on Sep 10.

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

18 truck companies and organizations call for zero-emission trucks

A newly-formed coalition of European key players in road freight urges the EU to accelerate the...

Number of workplace deaths down by one-third

The number of workplace deaths in Lithuania shrank by 33 percent, or 7 cases, in the first half of...

Unique integrated health monitoring system for stroke survivors patented in Lithuania

Group of biomedical engineers from biotech company Gruppo Fos Lithuania together with researchers at...

President hopes for fair distribution of EU recovery fund

Increased financing for the European Union’s (EU) cohesion policy is one of the biggest expectations...

Lithuanian Airports regain their tempo

The three international airports of Lithuania summarised the results of the second quarter and...

Top news

Rzeczpospolita editor: Polish president sees Nauseda as his personal ally

Polish President Andrzej Duda regards Lithuania as a strategic partner and considers President...

Interior minister sees no need for tighter controls on returnees

Interior Minister Rita Tamasuniene currently sees no need for tightening controls on people returning...

18 truck companies and organizations call for zero-emission trucks

A newly-formed coalition of European key players in road freight urges the EU to accelerate the...

Zalgiris Kaunas names Austria's Schiller as head coach

Zalgiris Kaunas has named Martin Schiller , a 38-year-old Austrian specialist, as its head coach,...

Only 1 new coronavirus case

On Monday, only 1 new COVID-19 case has been confirmed in Lithuania. In total, Lithuania has already...

|Maža didelių žinių kaina