The taxable value of real estate property in Lithuania has increased by 90% since the beginning of 2021, according to an assessment by the Centre of Registers, BNS reports. The tax value of residential property has roughly doubled, while the value of other real estate has increased by 60-100% over five years. Property values have…
Most banks in Latvia will be eligible for rebates on so-called solidarity tax payments in 2025, according to the Bank of Latvia, LETA reports. The central bank noted that the growth of lending has been appreciably faster in 2025. Therefore, most banks will qualify for discounts on their solidarity contributions, amounting to 25-100%. The new…
Lithuania’s State Tax Inspectorate (VMI) found no tax violations at a startup company co-owned by Prime Minister Gintautas Paluckas, BNS reports. VMI initiated checks at battery system developer Garnis, of which Paluckas owns 49%, in June 2025, following a request from the chairman of the opposition Homeland Union, MP Laurynas Kasciunas. Earlier, the state-owned national…
Irish low-cost air carrier Ryanair has cancelled flights from the Estonian capital, Tallinn, to six destinations for the period from April to October 2025, BNS reports. During the summer season, the airline will not fly from Tallinn to Billund, Bergamo, Paphos, Rome, Treviso, and Vienna. Ryanair will continue to fly from Tallinn to Milan, however….
Lithuania’s average gross monthly wage amounted to EUR 2,218 in 2024, which was up by EUR 204 (10.2%) from 2023, according to the State Data Agency (VDA), BNS reports. The average net monthly wage increased by EUR 116 (9.3%) to EUR 1,365. Real wages rose by 8.5% over a year. The main drivers of wage…
The Estonian government may allocate EUR 100mn to state-owned energy company Eesti Energia to speed up the construction of a new gas power plant in Narva, ERR reports. Also, the government is discussing the possible differentiation of renewable energy fees for companies and reducing network tariffs or changing electricity taxes for private consumers. The moves…
The Latvian parliament, the Saeima, has approved the state budget for 2025, LSM reports. The budget foresees revenues of EUR 18.4bn, while expenditure is planned at EUR 19.7bn. The estimated budget deficit will thus amount to EUR 1.3bn or 2.9% of the GDP. The key budget priorities are internal and external security and competitiveness. The…
Lithuania’s incoming centre-left government has revealed its draft programme for the next four years, LRT reports. The new coalition plans to focus on welfare, with more child benefits and better accessibility to health care and education. Also, the government may make changes to tax policy, moving towards progressive taxation. The new government plans to reverse…
The Latvian parliament, the Saeima, has passed in final reading a new tax on local credit institutions, LETA reports. Under the new law, credit institutions registered in Latvia and branches of foreign credit institutions will have to make quarterly solidarity contributions for the next three years. The tax will amount to 60% of their excess…
