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Vladimir Ivanovo (VŽ) nuotr.
The Ministry of Finance invites residents and organizations before February 10. make proposals for a review of tax incentives. As of February 23. The fiscal review will be launched by a dedicated working group, which will make proposals to the government in the second half of April on what to change.
During the first meeting of the working group, the initial results of the analysis of tax benefits and special tax conditions carried out by the Ministry of Finance would be presented and the proposals presented by the public would be summarized.
For many years, tax experts and economists have criticized the tax system for the establishment of the so-called “cattle farm”, where income is not taxed according to size, but according to the type of activity.
“In order to implement the government’s program and ensure adequate social guarantees and a better quality of public services, it is inevitable that the various benefits that are currently generating fiscal injustice will be reviewed. Therefore, we called on various national organizations to delegate representatives to the expert working group and the public to freely submit proposals on tax benefits, ”the report quotes Rūta Bilkštyt Minister, Minister of Finance.
The Ministry invited the working group of the Ministries of the President and Government, the Bank of Lithuania, the Ministries of Environment, Economy and Innovation, Energy, Culture, Social Security and Labor, Health, Agriculture, Investor Forum, Chamber of Lithuanian Trade, Industry and Crafts, Lithuanian Accountants and Auditors, Lithuanian Tax Advisors Associations, Lithuanian Trade Unions, Lithuanian Industrial and Business Confederations, Lithuanian Small and Medium-sized Enterprises and Lithuanian Agricultural Councils and the Chamber of Agriculture.
Minister: benefits must have an expiration date
Gintarė Skaistė, Minister of Finance, in an interview with VŽ, stated that it is necessary to assess not only the amount of revenue not collected in the budget due to these benefits, but also the value they create for certain business or population groups.
“It is also important to assess how relevant relief is today once introduced. Some of them are introduced when a company finds it difficult to let one sector or another enter, but perhaps in a few years it will no longer be relevant. In my opinion, Each benefit must have its own validity period and purpose, after which it would expire ”, says G. Skaistė.
VŽ also wrote that the parties that make up the new center-right ruling coalition will inevitably have to return to the “cattle” issue, and the biggest risk for conservatives and liberals will be agreeing on how to create a bigger budget revenue pie in the future.
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