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The Ministry of Finance Calls the Public to Mobilise for a Tax Relief Review

Date

2021 01 19

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The Ministry of Finance, considering the provisions of the XVIII Government Programme related to more equitable and growth friendly tax system, calls the public to mobilise and by 10 February to submit specific proposals for a tax relief review.

At the same time, the Ministry sets up a special expert group to discuss about expedience and impact of currently valid tax reliefs while performing the revision of special conditions and exceptions distorting taxation equity.

“In order to implement the Government Programme and ensure proper social guarantees as well as better quality of public services, we have inevitably to review various reliefs which currently create taxation inequity. Therefore, we applied to different national organisations with a request to delegate the representatives to the expert working group which is being set up, and to the public – to freely submit the proposals for tax reliefs”, noted Vice-Minister Rūta Bilkštytė.

The Ministry called the working group to be formed from the representatives of the President Office and Government Office, Bank of Lithuania, Ministry of Environment, Ministry of Economy and Innovation, Ministry of Energy, Ministry of Culture, Ministry of Social Security and Labour, Ministry of Health, Ministry of Agriculture, Investors Forum, Association of Lithuanian Chambers of Commerce, Industry and Crafts, Lithuanian Association of Accountants and Auditors, Lithuanian Association of the Tax Advisors, Lithuanian Trade Union Confederation, Lithuanian Confederation of Industrialists and Lithuanian Business Confederation, Council of the Lithuanian small and medium size enterprises, Lithuanian Agriculture Council and the Chamber of Agriculture of the Republic of Lithuania.

The first meeting of the Tax Relief Review Working Group is scheduled on 23 February, where the primary results of the analysis of tax reliefs and special taxation conditions carried out by the Ministry of Finance will be presented and the proposals submitted by the public will be summarised. The final legislative amendments are planned to be submitted to the Government in the second half of April.