aA
Representatives of the ruling Lithuanian Farmers and Greens Union have proposed introducing a new trade tax for retailers with an annual turnover of over 2 million euros, excluding VAT, since 2020.
Apsipirkimas
Apsipirkimas
© Organizacijos nuotr.

The LFGU members estimate that such a tax would allow the state budget to receive around 31.9 million euros a year in revenue.

Sellers of goods would be required to pay 1 percent on their turnovers exceeding 2 million euros, and sellers of medicines, electricity, gas, water and all types of energy would be exempt.

Tomas Tomilinas, representing the LFGU, told BNS Lithuania that the proposed amendments "are very much similar to the analogue tax in Poland". The lawmaker is convinced that the new tax would not be transferred onto consumers, hoping that retailers would reduce their share of profit instead.

"Profits are high and that tax can be easily paid at their expense. Profits are so high that they would be enough to pay the tax and also good dividends," Tomilinas said.

Tomilinas believes major retail chains would pay 86-87 percent of the tax.

Those behind the proposal say Poland's related experience was analyzed while drafting the new law, as well as the dispute with the European Commission, and Poland eventually won the case at the European Court of Justice.

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

Top court finds restrictions on waste-to-energy plants unconstitutional

The 2018 amendments to Lithuania's Law on Waste Management that imposed a ban on building...

Lidl gives up plastic bags in Lithuania (1)

The German retail chan Lidl has given up plastic bags in Lithuania. Other major retailers say they...

Ukrainians coming to Lithuania to work should be better informed about working conditions

Ukrainians coming to Lithuania to work should be better informed about working conditions after...

Leading Swiss engineering consultancy plans to double its Vilnius team

Engineering consultancy CSD Engineers has announced plans to double the size of its team in Vilnius...

Orlen Lietuva to carry its 1st cargo using rebuilt Renge section

The first freight train will go via the railway section from Lithuania's Mazeikiai to Renge in...

Top news

Landsberis: responsible parties could form coalition after election

Gabrielius Landsberis, leader of the opposition conservative Homeland Union – Lithuanian Christian...

Top court finds restrictions on waste-to-energy plants unconstitutional

The 2018 amendments to Lithuania's Law on Waste Management that imposed a ban on building...

Ex-Pentagon chief Mattis awarded by president

Lithuanian President Gitanas Nauseda awarded 34 Lithuanian and foreign nationals for their merits to...

Lidl gives up plastic bags in Lithuania (1)

The German retail chan Lidl has given up plastic bags in Lithuania. Other major retailers say they...

Google presented Lithuanian initiative to world

The Internet giant Google has presented its video about Debunk EU during the Google News...

|Maža didelių žinių kaina