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In addition, the future government intends to consider waiving taxes on reinvested earnings, reducing the budget’s dependence on indirect taxes: VAT and excise.
The draft of the new government program announced on Monday notes that, according to the structure of tax revenue, Lithuania is too dependent on indirect taxes and cannot even collect a significant part of them.
“The least damaging sources of tax revenue for the economy, such as property taxes and environmental taxes, are among the most modest in Lithuania so far, so we will give them priority,” the bill reads.
The new government promises to review tax exemptions and special conditions, avoid tax changes without discussion, and intends to notify them in advance to allow time for proper preparation.
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