In such case the minimum wage could go up by 50 litas (14.50 euros) as of this July and reach 900 litas in 2013. The government also suggests stipulating 20 days of holidays per year instead of the current 28. And, maximum severance pay would be four months’ wages, the employer would have ...

The Finance Ministry also refers to the European Commission’s opinion that the planned modifications to the contract are so important, that a new procurement process should be organized. According to the Finance Ministry, Pasazieru vilciens has not taken into account objections that the F...

Swedbank chief economist Martins Kazaks in turn emphasized that “Latvia needs the euro.” He agreed that there are certain risks and costs; however, if the country is smart enough, it will be able to benefit from Europe’s single currency. Kazaks pointed out that, even if the eu...

The Commission forecasts 3.8 percent growth for 2013. Inflation is expected to slow to 3.9 percent in 2012, as food price inflation recedes. Nevertheless, housing costs and energy prices will continue to drive inflation. In 2013, inflation is expected to maintain at around 3.4 percent, pulled u...

For this reason there is the possibility to sign an agreement with the Lithuanian State Tax Inspectorate: 1) Agreement on the amount of tax; 2) Advance pricing agreement. A taxation agreement might be signed when neither the State Tax Inspectorate, nor taxpayer have enough evidence of the amou...