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Tax hikes are being discussed in Lithuania

Tax hikes are being discussed in Lithuania

The Lithuanian government is actively discussing the possibility of increasing taxes for citizens in order to increase funding for the defense sector. Thus, corporate tax could increase from 15% to 16%.

VAT rates may rise from 21% to 22%. Progressive income tax rates may be revised and some benefits removed.

In addition, the rate for small companies may increase from 5% to 10% in order to place all businesses in fairer conditions.

At the moment, all proposals are at the discussion stage and require detailed analysis.

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