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Lithuania Should Shift Labor Tax Burden To Wealth: IMF

by Ulrika Lomas, Tax-News.com, Brussels

04 June 2015


The International Monetary Fund (IMF) has said further fiscal reform is needed to support improvements to living standards in Lithuania.

The Fund recommended that reforms should be aimed particularly at easing the tax burden on labor and at encouraging investment and innovation.

The IMF said Lithuania should concentrate on reducing its public debt to allow policymakers more flexibility and to cushion against future downturns. It recommended that this can be achieved by improving the efficiency of the tax administration, increasing taxes on wealth, and rationalizing spending where possible.

TAGS: tax | economics | fiscal policy | International Monetary Fund (IMF) | tax planning | tax rates | tax reform | Lithuania

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