The Lithuanian parliament approved Tuesday proposals to increase taxation of corporate incomes and to introduce taxes on non-life insurance premiums and sweetened nonalcoholic beverages.
The measures aim to raise additional funds for defense and social security, Lithuania’s finance ministry said in a press release.
Additional tax revenue allocated to defense will amount to 152.7 million euros ($176.7 million) in 2026 and 269.5 million euros in 2027, according to the ministry’s estimates.
The parliament also approved an increase in a preferential value-added tax rate applied to accommodation, passenger transport, ...
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.