BNS Lithuania would benefit from the introduction of the financial transaction tax (FTT) and participation in the proposed new European banking union, Algirdas Šemeta, European Commissioner for Taxation and Customs Union, Audit and Anti-Fraud, has said. The European Commission and the eleven countries supporting the …
BNS The European Union’s (EU) new instruments aimed at collection of hidden taxes could help member-states recover hundreds of billions of euros, Lithuanian EU Commissioner Algirdas Šemeta says. Šemeta, a commissioner in charge of taxes, told BNS that, according to calculations made by Brussels, member-states …
The EU’s proposed single banking supervision mechanism will be one of the key topics to be discussed during Lithuania’s EU presidency, Finance Minister said. There should be no taboos on talking about changing EU treaties, but during its presidency, Lithuania will seek to advance as …
According to the Bank of Lithuania, businesses indicate a possible increase in the burden of taxation and production costs as the most important issue of the future, while the availability of financing sources is seen as the factor of least concern. Such results were revealed …
BNS The Lithuanian government will soon return to discussions about whether or not to introduce the EU’s controversial financial transaction tax (FTT) in the country, Prime Minister Algirdas Butkevičius said on Thursday. “We were asked by certain administrators, commercial bank managers to allow them to …
The EU Finance Ministers (ECOFIN) agreed to amend this year’s EU budget, to step up the fight against tax fraud and evasion and discussed the aspects of bank recovery and resolution, the Lithuanian Ministry of Finance has informed. The Ministers of Finance approved the proposal …
BNS Exchange of information about foreigners’ deposits and income could be of use for Lithuania, Finance Minister Rimantas Šadžius has admitted. “I don’t have any information about citizens’ deposits in other countries. I think that we will have that information if we participate in the …
The Bank of Lithuania has informed that in April 2013, its external assets increased by LTL 953.2 million and resident deposits with it went up by LTL 941.7 million, of which deposits of other monetary financial institutions (MFIs) increased by LTL 862.4 million. At the …
Economic and Financial Affairs Council (ECOFIN) on 14 May, 2013 will discuss the bank recovery and resolution, EU budget, fight against tax evasion and fraud and other issues in Brussels, the Baltic Course reports with reference to the PR Office of Finance Ministry in Lithuania. …
The Bank of Lithuania has informed that in the first quarter of this year, with the withdrawal from the market of two bankrupting credit unions, the whole union system maintained an annual growth rate. With the continuing expansion of the sector, most attention was paid …
The Creditors Committee of Bankas Snoras (in liquidation) has approved a resolution proposed by Neil Cooper, Bankruptcy Administrator for the sale of the bank’s Lithuanian foreclosed assets that have a market value of less than LTL 1 million (EUR 290 million), the Baltic Course reports …
According to Swedbank’s Macro Research Department, consumer prices in Lithuania increased by 0.3 per cent in April at the same pace as in March. Swedbank further informs that annual inflation decreased by another 0.3 percentage points and was at 1.2per cent in April. Average annual inflation …
BNS A proposal to introduce a financial transaction tax (FTT) in the European Union (EU) will be one of the key items on the agenda of the Lithuanian Presidency of the EU Council in the second half of this year, Deputy Finance Minister said. Discussions …
Lithuanian Prime Minister Algirdas Butkevičius has confirmed that the Government is planning to buy a civic helicopter for LTL 60 million (EUR 17.4 million), the Baltic Course reports with reference to the news agency ELTA. “The tender was announced by the previous government. As we …
A survey performed by the Bank of Lithuania shows that commercial banks, for the second half-year in a row have mitigated credit conditions for small and medium businesses, and in the future plan to mitigate them even more. As the major argument banks indicate growing …
Lithuania’s Prime Minister Algirdas Butkevičius says that the reduction of Value Added Tax (VAT) to nine per cent for food would cost LTL 380 million (EUR 110 million) to the state budget, the Baltic Course informs with reference to ELTA. “We have to admit that …
A survey commissioned by credit card Visa and conducted by the Austrian professor of economics Friedrich Schneider shows that the size of the shadow economy in Lithuania and Estonia is about 30 per cent of the country’s GDP, writes the Baltic Course. According to the …
At the end of April 2013, official reserve assets amounted to LTL 20.4 billion (EUR 5.9 billion), informs the Baltic Course with reference to the news agency ELTA. In April they increased by 4.6 per cent (by LTL 903.8 million), the Bank of Lithuania said …
Although a large part of commercial banks participating in the Bank of Lithuania’s survey indicated that they do not expect changes in the price of real estate, there has been a significant increase in those that believe that the real estate market market’s stagnation is …
A group of Estonian investors represented by lawyer Viktor Särgava are bidding for Lithuanian investment bank Finasta, writes the Baltic Business News with reference to Äripäev. Lithuanian central bank announced last week that EurEst Capital that belongs to Särgava has made a bid for Finasta. …
