LFMI

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).

May 11, 2018 – today Lithuania commemorates the Respect for Taxpayers Day for the first time. On this occasion, the Lithuanian Free Market Institute (LFMI) and partners present the Charter of Taxpayer’s Rights, taking the opportunity to remind that taxpayers have not only duties to observe but also rights to enjoy.

On March 13, 2018, the Lithuanian Free Market Institute held Lithuania’s first National Economics Exam for pupils, university students, and everyone interested in measuring their knowledge of economics. Over 6,500 people from all over the country took part in the exam.

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%.

On March 13, 2018, the Lithuanian Free Market Institute will hold Lithuania’s first online National Economics Exam for pupils, university students, and everyone who would like to measure their knowledge of economics.

As many as 81% of Lithuanians find their knowledge of economics insufficient. Making economic decisions at every step of the way, Lithuanians compare their understanding of economics to that of physics or political sciences, but find themselves less confident in economics than in computer literacy or mathematics.

The Respect for Taxpayers Day becomes an official commemorative day in Lithuania to be celebrated on May 11. A recently adopted law is a result of a petition submitted by the Lithuanian Free Market Institute.

Žilvinas Šilėnas tops the list of Lithuania’s most influential opinion leaders, a market research company “Kantar TNS” announces. Reaching the audience of 37 million in the first half of 2017, Šilėnas has forged ahead the incumbent representatives of the banking sector.

After three years of decline, illegal trade in alcohol is on the increase, shows a research by the Lithuanian Free Market Institute (LFMI). According to LFMI, this year the shadow economy occupied 24% of the spirits market in Lithuania, representing an increase by two-percentage points since 2015.

LFMI launches Employment Flexibility Index 2018 for the EU and OECD. The index is based on the World Bank’s Doing Business data on labor market regulation and covers a set of indicators on hiring, working hours, redundancy rules, and redundancy costs.