Lithuania plans to increase taxation of corporate incomes and to introduce taxes on non-life insurance premiums and nonalcoholic sweetened beverages, under a proposal the finance ministry published Wednesday.
It also plans to increase taxation of higher personal incomes, to raise a preferential value-added tax rate of 9% to 12%, and to eliminate VAT relief for heating, among other changes.
The proposed adjustments aim to bolster state finances with a particular view of increased defense spending. If adopted by parliament, they would take force Jan. 1, 2026. Comments on the proposal are due by April 30.
The finance ...
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