Lithuania Reforms Tax and Pension Systems
In late June the Lithuanian Parliament adopted a law that consolidated the employer and employee base for social security contributions and significantly cut the rate of contributions.
taxation
Options for Croatian Tax Cuts Are on the Table
Previous tax cuts released 1% of GDP worth value to taxpayers’ pockets, followed by ongoing red tape cuts and market deregulations. These moderately intensive reform trends have created a methodologically based contribution for slight increase of economic freedom.
Trade Facilitation Means Transparency and Clear Rules for Ukraine
The first steps of the long-awaited customs reform in Ukraine started in 2017 only to be cancelled at the beginning of 2018. Meanwhile, customs clearance in the country remains lengthy and complicated, which is reflected in Ukraine’s low positions in comparative international rankings.
Energy Taxation Directive Should Protect Europeans
Energy Taxation Directive (ETD) claims to improve the Single Market, promote energy efficiency, and contribute to jobs and growth. In reality, it fails to achieve these objectives. The research by LFMI suggests that in 2012 the grey market for fuel comprised nearly 20 percent of the market for transportation fuel.
Energy Taxes and Lobbying Against Free Trade
TEP required member states to liberalize the power markets while RED set incentives to pick-up champions. The call for opinion on the ETD intends, presumably, to boost EU common market, while the RED and other policies are fragmenting it.
Tax Freedom Day Falls in Lithuania
May 23, 2018 – the symbolic Tax Freedom Day, marking the day when an average taxpayer has paid all the dues to the government and begins to work for himself, falls in Lithuania. This year the Tax Freedom Day comes on the same day as in the last year, according to the Lithuanian Free Market Institute (LFMI).
How Much Would a Simple Tax Reform Cost in Slovakia?
Paying the advanced tax in Slovakia is a bureaucratic burden, since an entrepreneur has to take care of the regular payments. But there is a bigger problem. An entrepreneur has to pay the advanced tax from her/his current income – but the payment size is set according to her/his last year’s tax.
Rapid Changes in Ukrainian Fiscal Legislation and Lack of Stable Rules
On December 7, 2017, the Ukrainian Parliament had the day of Budget-2018. During one day, the Verkhovna Rada amended the Budget Code and Tax Code, as well as adopted the State Budget Law for 2018. The decisions were taken in a very non-transparent way with changes approved from the voice.
Progressive Taxation: Are Taxes in Lithuania Too Low?
With several policy proposals on introducing a progressive taxation model put on the table, the upcoming parliamentary session in Lithuania is sure to become a heavily debated one. In fact, every tenth taxpayer is threatened with higher tax burden as personal income tax might increase from a flat 15%up to 20%.
2018 Index of Economic Freedom Shows Croatia’s Clear Priorities
Croatia is currently 61% economically free. There is no country with more than 90%. Therefore, Croatia’s competitive gap is much more than 39% deficit in economic freedom. Croatia’s challenge is to compete with much better countries of Central Eastern Europe.
