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Lithuania was rated the best in the categories of corporate tax and the worst in the categories of consumption and international tax agreements.
In one year, Lithuania fell one place in the Tax Competitiveness Index compiled by the Tax Foundation.
An important reason
The research report highlights the strengths and weaknesses of the Lithuanian tax system.
Among the strengths, the business-friendly taxation of investments in equipment and buildings, only 15 percent. with the goal of a corporate tax rate.
Lithuania also deserves praise for its relatively low labor taxes.
Luke April / 15min photo / Money
The first shortcoming of the country’s tax system is that Lithuania has bilateral tax treaties with only 54 countries, well below the OECD average.
The report also states that Lithuania spends little on research and development and that strict capitalization rules apply to multinational companies.
And Latvia and Estonia, among other accolades, were rated for their reinvested earnings tax-free.
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