taxation

This year\'s Tax Freedom Day fell on June 25, and this year the state will redistribute 48 percent of what we produce. Last year we announced that we would have to revise for the first time ever, but in the end it was not necessary. The economic downturn was smaller than expected, and so, too, was the redistribution eventually.

The Lithuanian Free Market Institute (LFMI) announces the celebration of Tax Freedom Day on Tuesday in Lithuania. The fact that it is celebrated almost three weeks later than last year shows increased government spending.

Lithuania ranks sixth in the Global Tax Competitiveness Index but it has the least attractive corporate tax regime in the Baltic region. It taxes retained and reinvested profits and applies a personal income tax when dividends are paid out. The effective combined tax rate stands at 27.7%. Estonia and Latvia tax only redistributed profits, at 20%.

The Slovak Minister of Finance claims a tax and contribution burden on self-employed people should be increased in order to be “fair“ in comparison to employees. Why can’t we put a sign of equality between these two statuses? Why doesn’t the term “fair“ make sense?

Some respected economists identified the issue of consolidation in public budget already in 2022 as a third-order problem. From an analytical point of view, he is, of course, right. A one-year deficit of 10% of GDP is nothing compared to a permanent two to five per cent deficit in the pension system with a declining workforce.

The tax ceiling is not designed to strengthen the debt ceiling, as the latter has been devised so that the irresponsible governments in the future could not impose bring an unprecedented burden on the public finances.

The financial wealth of Slovaks is calculated in about tens of thousands of euros, as a matter of fact, the wealth of Slovaks lies in the bricks of their houses. A house or a flat is a money-making property only for a very small number of Slovaks. Income from capital will push the inequality rate higher.

The European Commission (EC) is conducting an open consultation on A Fair & Competitive Digital Economy - Digital Levy. The consultation document acknowledges that digitalization has brought many benefits to the global economy, but questions are raised about revenue collection from digital businesses.

The Lithuanian government has enlisted Lithuanian Free Market Institute’s (LFMI) proposal for adopting the Estonian corporate income tax model among Lithuania\'s main tax reform alternatives.

PiS politicians are not really hiding that this is another step of the \"re-Polonization\" of media dominated by foreign capital. Reporters without Borders (RSF) warned that \"Polska Press is just the start\" and PiS will follow Viktor Orban’s path of taking full control over the media landscape.