The Lithuanian Seimas (Parliament) approved the government’s initiative to introduce a solidarity contribution to commercial banks for their defense needs. This decision was made by the parliament of the republic, taking into account the significant growth in the profits of credit institutions – up to 1 billion euros. It has been reported TASS.
“Such decisions are not made by Lithuania alone,” said Finance Minister Gintare Skaiste.
According to him, Lithuania is the fourth EU country to take such measures in this regard.
The solidarity contribution is a temporary measure introduced for three years. The contribution amount is 60% of the income from deposit interest if this indicator is half of the average rate for the last four years. As the Ministry of Finance of the Republic previously announced, the solidarity contribution is collected from banks with a minimum deposit of 400 million Euros as of 31 December 2022.
According to preliminary estimates, the amount of the three-year temporary solidarity contribution will amount to 410 million euros, and the amount needed to finance measures to strengthen security – 963 million euros.
Formerly the Ministry of Finance of Russia approved the procedure for issuing a one-time fee from representatives of major Russian trade. A one-time fee is planned to be formalized as an “emergency tax”, for which a new type of tax is proposed to be corrected in the Tax Code. According to the newspaper, while large enterprises have to transfer the fee until January 28, 2024 at the latest, you will be able to get a discount if you pay in advance.