Estonia’s Ministry of Finance has proposed postponing the introduction of a unified tax-free income threshold until 2026, ERR reports. The ministry said that the move would ensure that Estonia’s state budget deficit did not exceed 3% as required under EU law. Under the current system, gross income of EUR 1,200 per month is exempt from…
Tax-free income in Estonia totalled EUR 4.15bn in 2023, according to the Ministry of Finance, ERR reports. In 2023, the tax-free income threshold was EUR 704 per month for pensioners and EUR 654 for working-age individuals. The ministry does not have a current forecast on the amount of tax-free income in 2024. Former prime minister…
Lithuania’s ministries of defence and finance are developing a mobile application to enable public donations for national defence, aiming for a summer rollout, BNS reports. Finance Minister Gintare Skaiste said that the app would allow for both periodic and one-off payments, similar to NGOs helping Ukraine. Earlier, the government rejected a proposal on voluntary donations…
Estonia’s Ministry of Economy and Ministry of Finance have drafted legislation mandating gender balance on the boards of listed companies, ERR reports. An EU directive requires that at least 40% of supervisory board members or 33% of the total board and council members be from the underrepresented gender by the end of June 2026. Currently,…
Estonia’s Ministry of Finance plans to issue bonds specifically for Estonian citizens for the first time, allowing small investors to benefit from a fixed interest rate and trade the bonds on the Nasdaq Tallinn stock exchange, ERR reports. Finance Minister Mart Võrklaev says that the aim is to diversify the state’s funding sources and provide…
Latvia’s ruling coalition will soon need to discuss “painful decisions” on taxes, Prime Minister Evika Silina stated, LETA reports. Speaking in an interview with TV3, Silina said that simplifying taxation was an important priority. The Ministry of Finance has developed potential proposals for changes on real estate tax, labour costs, corporate income tax, VAT, small…
Latvia’s tax revenue totalled EUR 3.325bn in the first quarter of 2024, which was EUR 40.7mn (1.2%) less than planned, according to Finance Ministry data, LETA reports. Tax revenue was EUR 109.2mn (3.4%) higher than in the first quarter of 2023, however. General state budget tax revenues totalled EUR 3.126bn, which was 1.1% short of…
Latvia’s Ministry of Finance has outlined its provisional plan for passing the 2025 state budget, LSM reports. Under the plan, the Finance Ministry will discuss budget goals with other ministries over March 2024 and submit stability programmes for 2024-2028 to the government, the parliament, and the European Commission for approval on 30 April 2024. The…
Latvia’s tax revenue totalled EUR 13.414bn in 2023, which was EUR 1.188bn (9.7%) less than in 2022, according to the Finance Ministry, LETA reports. Annual tax revenue was 2.7% more than the EUR 13.058bn planned. General government tax revenue reached 2.9% above target at EUR 12.639bn, including EUR 10.514bn of state budget revenue (2.3%) and…
