Articles

Lithuanian taxation system underwent several changes in the last couple of years. The country’s Conservative-led coalition Government, which took office in December 2008, enforced a tax reform, which it expected was to help fighting the economic crisis and collecting more revenue to the state budget. The rates of major taxes – VAT, corporate income tax, social insurance tax – were increased as of the start of 2009. After the heavier tax burden had a negative effect, especially on small and medium-size businesses, some amendments were made and took effect as of 2010 and 2011. more

The public share market in Lithuania was mostly furthered by the process of privatization of the state-owned companies, which started in 1991. From the very beginning, the National Stock Exchange of Lithuania established in 1992, was marked by the large number of listed companies. If in 1993 the number of companies was 13, then in 1994 there were already 115 listed companies traded on both lists. However later the amount of companies has gradually decreased almost by a half. more

No branches of industry have been outlined as priority in guidelines for the development of the Lithuanian economy. However there was a strategic decision on the promotion of innovations, investments in modern technologies and industries which create a high added value. more

Lithuanian business ethic is not much different from their neighbours’ in Eastern Europe. However, as academics despite the fast-proceeding process of globalisation still keep producing books on national character it must have at least some impact on all spheres of life, business including. more

Lithuania is a high-quality human resource country: 31 per cent of labour force has a higher or university education. more

Despite the Government’s attempts to attract more investment FDI in the first nine months of 2010 was 67.77 million EUR below the level in the respective period of 2009 and stood at 9.90 billion euros. more

2010 was a year of record low real estate prices both for sale and for rent in Lithuania. The same tendency applies both for commercial premises and residential apartments. The activity of the market was at its lows, the supply of new real estate projects was most poor in the last 10 years. more

Although in 2010 import recovered faster than export, however, the amount of it still falls significantly behind the pre-crisis level, while the export has almost reached it. more

Lithuania is the largest of the Baltic States in terms of territory, number of inhabitants and size of economy. It was one of the fastest growing economies in Europe before the global crisis of 2008. more

Lithuania is located on the eastern shore of the Baltic Sea, and it is the largest among three Baltic States in respect of population, territory and economy. Lithuania borders Latvia in the north, Byelorussia in the south-east, Poland in the south and Kaliningrad Region belonging to Russia in the south-west. more