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Aware: 10-20-2020 10:01
Algirdas Sysas, member of the Seimas Photo by Judita Grigelytė (VŽ).
On Tuesday, together with 2021. The reform to the Corporate Tax Law presented by the Social Democrats Algirdas Sys and Julius Sabatauskas, members of the Seimas, is proposed for consideration in the 2021 budget. January 1 increase the tax rate of companies from 15% to 20%.
The politician argues the proposal with the constant comments of international experts on the unbalanced taxation of labor and capital in Lithuania. Also due to the fact that neighboring countries apply a higher corporate tax rate, and the need to increase budget revenues for the so-called welfare state. The speakers indicate that another 100 million euros could be budgeted. EUR.
Concerned about the welfare state
“A welfare state without money is a welfare state without a future. I am not proposing to increase or introduce new taxes for individual types of businesses, but to increase the corporate income tax by 5% and match it with the size of neighboring countries, ”says A. Sysas in the explanatory note.
Shareholder income from corporate profits is taxed at a rate of 20% in Estonia and Latvia.
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