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Lithuania Puts Tax Evaders In Its Crosshairs

by Ulrika Lomas, Tax-News.com, Brussels

16 August 2016


Lithuania's Finance Minister, Rasa Budbergyte, has confirmed that next year's Budget will contain no new taxes, with new revenue to be found from anti-tax evasion measures and further tax administration improvements.

In a recent speech broadcast by local radio, Budbergyte said that while the Government should continue making improvements to Lithuania's tax framework, measures to "fight against the fraudsters who avoid paying [taxes] using aggressive tax planning schemes" are just as important.

She added that the Government has already enjoyed some success in its campaign to reduce the shadow economy. Efforts to improve tax administration have already yielded higher tax revenue.

According to Ministry of Finance data, state and municipal tax revenues increased 4.3 percent in the first seven months of the year over the corresponding period in 2015.

The figures show that revenues from major taxes were higher than expected, except value-added tax revenues, which were broadly in line with expectations.

TAGS: Finance | tax | value added tax (VAT) | tax avoidance | budget | tax planning | Lithuania | Tax | Tax Evasion

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