Tax Cut Revolution
This revolution has not been hampered by the economic crisis. It is going on. This year alone seven countries are going to reduce the profit tax.
Lithuania
We (Do Not) Need the Euro
The government in Lithuania reports a specific euro introduction target date – 2015. National Euro Changeover Plan and Public Awareness and Communication Strategy are being prepared.
LFMI Welcomed Proposals to Amend the Labour Code
LFMI submitted comments to the Government and the Ministry of Social Security and Labour, welcoming Government-proposed amendments to the Labour Code. LFMI believes that removing the requirements to keep employment contracts record books, to issue monthly pay statements and to conclude labour contracts according to the model form will reduce the high administrative burden for companies. LFMI is of the opinion that such proposals as the permission to conclude fixed-term labour contracts for permanent jobs,…
LFMI News and Activities: May 2012
In May, the Lithuanian Tripartite Council debated Government-proposed amendments to the Labour Code that envisaged the first-ever thorough revision of employment regulation in Lithuania. The package contains proposals that would render labour relations more flexible to correspond to the real needs of the market and the existing reality. Supporting the Government’s proposals, we took part in the sittings of the Tripartite Council and in the public debates, highlighting that these changes would be beneficial both…
LFMI News and Activities: April 2012
In April we continued working actively on the issues of higher education. The Parliament passed amendments to the Law on Science and Studies, incorporating our recommendations submitted in March. Among them is the provision enshrined in the law that well-learning students “shall be granted” studentships (the original wording of the bill was “may be granted” studentships). We understand that there is still a number of pressing issues to be solved as regards the higher education…
Lessons from Lithuanian Austerity
In recent years, the Baltic States have been showcased as an austerity success story. While the whole world has seen countries such as Greece, Spain and Portugal struggling to reduce their public spending, Lithuania has been hailed as an austerity example. Lithuanian success in public spending cuts has been widely acknowledged; yet simultaneous tax increases and their harmful effects have received less attention. Since the end of 2011, however, the country once again found itself…
LFMI: Tax Freedom Day in Lithuania Falls on May 20
According to the Lithuanian Free Market Institute’s (LFMI) annual calculations, Tax Freedom Day in Lithuania has moved earlier in the calendar and will fall on May 20
“The Taming of the Fiscal Shrew”
On March 2, EU-25 leaders signed the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union, commonly called the Fiscal Compact. The Treaty was not signed by the Czech Republic and Great Britain. Lithuania joined the treaty, but it still needs to be ratified by the Lithuanian Parliament (Seimas). Not being a member of the eurozone, Lithuania would be able to choose, which particular provisions of the treaty to commit to. However,…
People in the Baltic Countries See the Same Causes of Smuggling – High Taxes and Low Income
Lithuanians, Latvians and Estonians think that the primary cause of smuggling is taxes higher than the living standards in these countries, which generates differences in prices
New Political Party in Lithuania
As The Lithuania Tribune writes a new party was granted a persmission fo be registered – the Lithuanian People’s Party, established by Vladimir Romanov. After regsistration in the Register of Legal Entities party will be formally set up. At the same time documents submitted by Democratic and Labour Party and Emigrants Party were rejected as they failed to “meet the legal requirements”. To take part in the closest parliamentary elections, the parties will have to…
