Shareholders of VP Group, which owns Lithuania's biggest grocery store chain 'Maxima', have become targets of national tax authorities who suspected large-scale tax evasion.
© DELFI (R. Achmedovo nuotr.)

Artūras Klerauskas, deputy chief of the State Tax Inspectorate (VMI), tells DELFI that the authorities have been investigating all shareholders of UAB 'Vilniaus Prekyba' since 2012.

The investigation found that the shareholders owe the state almost EUR 2m in taxes, arrears and fines for the period since 2012.

"During the investigation, we analysed tax evasion schemes and calculated taxes due in line with the primacy of content over form," the VMI spokesman says.

According to Klerauskas, the owners of 'Maxima' chain avoided taxes by exploiting the provision which allows deducing loan interests and proceeds from sale of securities from taxable income.

The Tax Inspectorate is also keeping an eye on UAB 'Maxima Grupė'.

Over the first six months of this year, UAB 'Maxima LT' paid EUR 56.28m in taxes, making it the fourth-biggest tax payer in the country.

Last year, UAB 'Maxima LT' paid EUR 111m in taxes.

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

Vitas Vasiliauskas: the matter of income inequality will become only more acute next year

The cabinet’s tax and public sector policy is not contributing to resolving income inequality...

CityBee is set to join European car-sharing leaders with a 110 mln EUR investment in major fleet upgrade

CityBee Solutions, which operates car-sharing services in Lithuania and Poland, today announced an...

A new money transfer startup goes to market donating its income for social campaign

Due to the growing financial awareness of the people, alternative money transfer platforms are coming...

D. Grybauskaitė: the EU will owe us

Lithuanian farmers will not receive the sort of direct grants from the EU as were promised already...

Revolut turns new page with Lithuania-facilitated banking license

Today, Revolut together with the Bank of Lithuania have announced that the challenger bank received...