Prime Minister Algirdas Butkevičius says that he opposed a universal tax on real estate.
© 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.

It is forbidden to copy the text of this publication without a written permission from ELTA.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

How blockchain technology will change the world trade?

The field of research of World Trade Organisation chief analyst Emmanuelle Ganne is the application of...

Welcome to Vilnius workshops to support foreign talent relocating to Lithuania’s capital

This Tuesday Vilnius’ business development and tourism agency Go Vilnius at the Workland Business...

2018 was marked as the best year for Lithuanian cinema market after the restoration of independence

The Lithuanian film centre have summarized the local box office results - in 2018 distribution reached...

The number of foreign startups choosing Lithuania for starting their businesses is growing

Last year, the Startup Visa received 178 applications of foreign companies for participation in the...

Lietuvos Geležinkeliai starts Rail Baltica territory planning (1)

Lietuvos Geležinkeliai [Lithuanian Railways] is initiating the European gauge Rail Baltica...