Posts tagged as income

Latvians optimistic about income levels

Thursday, June 4, 2020

More than half of Latvia’s population believe their income will remain at a previous level after COVID-19 crisis, according to a survey by SEB Bank, Latvian Radio reported on June 4. According to the survey, 53% of residents forecast that their income levels will not change in the next half-year, SEB Bank head Ieva Tetere told Latvian Radio. The survey was conducted in all Baltic States, and the results show that…

Lithuanian employers vow not to cut wages, if income tax is reduced

Monday, May 25, 2020

Employers in Lithuania pledged not to cut wages if the parliament reduces the income tax rate from 20 to 15 percent, and increase non-taxable income by 50 euros. The memorandum was signed by the Infobalt association, the Investor’s Forum, the Lithuanian Confederation of Employers, the Lithuanian Confederation of Industrialists, the Lithuanian Association of Chambers of Commerce, Industry and Crafts as well as the Lithuanian trade unions Solidarumas and Sandrauga. The…

Lithuanian president suggests temporary cuts to income tax to stimulate economy

Tuesday, May 5, 2020

The Lithuanian President is suggesting temporarily cutting the income tax so as to speed up economic recovery from the coronavirus-induced crisis. President Gitanas Nausėda discussed the option during a discussion with economists last week, according to his adviser Simonas Krėpšta. “The discussion included one of the options, ideas – to reduce the income tax temporarily until the end of the year […] for all employees in a very horizontal manner,…

Universal basic income in light of the outcomes of the coronavirus pandemic

Tuesday, April 14, 2020

Caught by the coronavirus pandemic, many governments are quickly reorienting themselves towards what was previously viewed as a utopian experiment – universal basic income. This idea now seems to be one of the few valid options available in the fight against COVID 19, recession, poverty, and inequality. Such an income distribution and division idea is present in many countries around the world, and is quickly becoming a global view. Universal…

Lithuanian government’s tax plan aimed at increasing income for low, middle earners

Wednesday, June 6, 2018

A three-year tax overhaul plan, proposed by the Lithuanian government is aimed at increasing income for low and middle earners, as well as stepping up fight with shadow economy, Finance Minister Vilius Sapoka says. “Tax overhaul is like building a house. (…) By asking support and assuming responsibility, I am inviting you to build this house together and not to try and destroy it,” he told lawmakers, introducing the planned…