taxation

Imagine you are running a business. You have a small business or a trade, and you are doing just enough to maintain the same standard of living across challenging times. Then suddenly, without any increase in your income compared to the prices around you, the state tells you that you are already earning enough to pay more in taxes.

A new movement called degrowth is being mentioned more and more often in the media around the world. The aim of this movement is to address current environmental challenges by abandoning the ‘economic growth paradigm.’ However, life and humanity as we know it today exist only because of economic growth. We would not be dealing with the environment today without years, decades, and centuries of economic growth.

Christmas

Classical liberals might not agree that the EU, the UK, and the US are capitalist places, given the mounting number of anti-business regulations and measures. On the other hand, critics of free markets need only look at the latest polls on what people want most for Christmas to frightfully barricade themselves against the hordes of money-thirsty capitalists behind the complete works of Marx and Co.

Bulgaria’s Мinistry of Finance recently published the ‘tax package’ for 2024, including proposed changes to all tax laws. Alongside widely discussed cases such as the return of the standard VAT rate for restaurants and bread and non-payment of bills in case of an undeclared cash receipt, the package also includes perhaps the deepest change in business taxation in our country in over 15 years.

Bulgarian football

Total management collapse, poor infrastructure, shameful results, and alienation of fans from the stadium, now even aided by water cannons. The agony of Bulgarian football has reached an incomprehensible low. An appointed match for the national team with empty stands, fights outside the stadium, and a middle finger for farewell seem to mark the end of the team in the Bulgarian Football Union (BFU).

Medium-sized private enterprises play an important role in the economy and social development. Medium-sized enterprises operating in domestic and foreign markets are a kind of “backbone” of the economy. Compared to small and large enterprises, medium-sized businesses have higher viability, better access to external financing, and “economies of scale” benefits. 

The complexity of the advance payment of corporate income tax (CIT) creates administrative burdens for businesses and hinders the path to greater competitiveness. To ensure the stability of the state budget and higher tax revenue collection, the CIT regime was complemented by an advance CIT in the early years of the restoration of Lithuania’s independence. Companies pay it before profits are earned, thus crediting the State.

The Lithuanian Parliament rejected the president’s proposal to allow people to withdraw a quarter of their pension savings. However, a similar proposal will be considered in return. Politicians are, of course, inspired only by good motives – the desire for freedom and goodness. But freedom goes hand in hand with responsibility, which is valid every day and even more so in the long run.

Lithuania ranked ninth in the International Tax Competitiveness Index 2023. This country ranked eighth last year and fourth in 2019. Why is it sliding down instead of finally rising up the pedestal? The International Tax Competitiveness Index assesses tax systems on their simplicity, transparency, neutrality – i.e., fairness to specific activities and income levels – and stability.