Lithuanian Prime Minister Saulius Skvernelis expects laws on the continuing tax reform to be passed by the parliament by July and to take effect in early 2019.
© DELFI / Andrius Ufartas

"We want to put the legal base in order by July 1," the prime minister told reporters on Wednesday after a meeting between leaders of the ruling Lithuanian Farmers and Greens Union's political group in the Seimas and chairpersons of the parliament's committees.

According to Skvernelis, the reform will include an overhaul of second-pillar pension systems and amendments aimed at reducing the tax burden "both on labor and the overall (tax burden), because we have both to be competitive and to increase people's income".

He said that the government would not table any proposals regarding tax increases.

When asked if there are plans to consolidate social insurance taxes paid by employers and employees, Skvernelis said that this was a subject of discussion.

"I'm not saying that there will be consolidation, but there are such discussions," he said.

According to the prime minister, whether progressive taxes will be introduced will depend on the tax consolidation.

"If there is consolidation of the employee and employer (taxes), some tariffs may emerge, but it's too early to speak about that," he said.

The government last year tabled certain tax amendments, which were adopted by the parliament in tandem with the 2018 budget.

BNS
It is prohibited to copy and republish the text of this publication without a written permission from UAB „BNS“.
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Research: small Lithuanian business fails to assess IT potential and risks

Random employees rather than experienced specialists in the field normally are in charge of hardware...

Lithuanians have an idea how to reduce crypto mining costs

During the largest non-profit ICT and entrepreneurship event in the Baltic States #SWITCH held in...

Remigijus Šimašius on #TOWER: the ugly duckling becomes a beautiful swan

On Thursday, mayor of Vilnius, Remigijus Šimašius visited one of the highest residential buildings...

A new attraction centre will open for the citizens of Vilnius.

A Park Town business park located in a strategic area of Vilnius, in a tail of Konstitucijos avenue,...

Some 27 pct of Lithuanians get a pay rise in recent months - Delfi/Spinter poll

Twenty-seven percent of Lithuanians say they have received a pay rise in recent months, with 23.4...