Vilius Šapoka EN

The Lithuanian government's proposal to raise the excise duty on tobacco products next year is a result of the efforts to improve public health rather than generate more budget revenue, says Finance Minister Vilius Šapoka.

Lithuania's 2018 state budget will be a surplus, and its spending will grow from this year, says Finance Minister Vilius Šapoka, however, refusing to specify any budget-related figures.

Lithuania's government is this week opening debates into the 2018 budget draft, with the document to be presented to ministers on Monday before being discussed at the government's meeting on Wednesday.

Lithuanian Finance Minister Vilius Šapoka thinks that it is too early to speak about creating an EU finance minister, saying that the focus should now be on planned projects that need to be carried out.

Lithuania's government is keeping its promise to reintroduce a reduced value-added tax (VAT) on heating, with Finance Minister Vilius Šapoka pledging to submit relevant amendments to the Cabinet on Wednesday.

Lithuania's 2018 budget will have a surplus, Finance Minister Vilius Šapoka has pledged, however, did not specify how much the the state revenue would exceed the spending.

Dalius Misiūnas is stepping down from the top position at the state-run energy holding Lietuvos Energija (Lithuanian Energy) after more than six years in office, the Finance Ministry said.

Dalius Misiūnas, chairman of the management board and CEO of the state-owned energy group Lietuvos Energija (Lithuanian Energy), on Thursday was questioned by Special Investigation Service (STT) officials.

The Lithuanian Special Investigation Service, or STT, has launched a pre-trial investigation into a possible abuse by disclosing classified information submitted to the Finance Ministry about a candidate to become a member of the supervisory board of the state energy group Lietuvos Energija (Lithuan...

20 Lithuanian companies of financial technologies merged into the association “Fintech Lietuva”, the establishment of which has been encouraged and supported by the Ministry of Finance, Bank of Lithuania and other public authorities.

Lithuania will launch the first fiscal receipt lottery this November, with the annual prize fund planned at about 173,000 euros.

Edita Janušienė, former chief auditor at the central Bank of Lithuania, has been appointed to head the country's State Tax Inspectorate (STI) for the next four years.

The 9-percent value-added tax (VAT) discount tariff for heating will be reintroduced in Lithuania on a temporary basis between the fall and the end of 2017, Finance Minister Vilius Šapoka said. The discount for 2018 has not yet been specified.

Lithuania is open to discussions about the French president's proposal to establish a position of the euro area finance minister and develop a separate budget of the area, says Lithuania's Finance Minister Vilius Šapoka, noting that this was not the most urgent matter at the moment.

After Lithuanian politicians have reached agreement on reintroducing a reduced VAT rate for district heating, a lower rate will likely start to be applied as soon as this fall, Finance Minister Vilius Šapoka said.

Lithuania's value-added tax rate on district heating and hot water supply increases starting on Thursday, from the reduced 9 percent rate to the standard 21 percent, but so does the number of households eligible for partial reimbursement of heating and hot water costs.

Lithuania's near-term economic outlook is positive, but there are doubts if the country will manage to catch up with Western Europe in the longer term, the head of the International Monetary Fund's mission to Lithuania said Vilnius on Monday, underlining the need for structural reforms and, in the e...