Lithuania

Contrary to what Lithuania’s prime minister claims, discussions on euro introduction are far from over. They might be over for those who have had the task of convincing Lithuanians about the benefits of having the euro.

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.

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 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 […]

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 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” […]

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 […]

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

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 […]

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