Our attorney at law participated at the meeting with the Minister of Finance of the Republic of Lithuania

This day the attorney at law of Juridicon dr. Laimonas Marcinkevičius and the members of the Lithuanian Association of Tax Consultants have participated in the meeting with the Minister of Finance of the Republic of Lithuania. During the meeting they have discussed the aspects of complex tax reform.

One of the main objectives of the tax reform, as highlighted by the Minister, is to apply the measures for reducing the taxes for those people with the lowest income and promoting more productive investments. At the meeting with the tax consultants the Minister emphasised that various currently valid privileges will be revised and only those, which are socially fair and effective, will be left.

Moreover, the Minister of Finance mentioned that the focus will be on voluntary tax payment – this is the financial education of society and simplification of tax procedures (e.g. formation of preliminary VAT statements and other services for tax payers). It was also emphasized that more and more information about the tax payers is being received from various sources, thus those who evade paying taxes will not avoid this obligation.

The meeting also included the discussion of problematic issues, related to the aspects of transaction pricing and VAT taxation, as well as long-lasting response of the tax administrator to the inquiry on tax issues of concern.