Lithuanian authorities may introduce a defense tax from 2025
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In Lithuania, a defense tax may be introduced from 2025. About this stated Chairman of the Sejm (Parliament) Committee on National Security and Defense Laurynas Kaciunas, writes Sputnik Lithuania.
The tax formula is scheduled to be discussed in early January 2024. It should be “a sustainable and long-term source of funding that will significantly strengthen the country’s security and defense.”
The elder of the Liberal Movement faction, Eugenijus Gentvilas, expressed the opinion that it would be possible to take loans from the population to finance defense projects.
“Let’s use the money of people who today work in banks operating in Lithuania. The deposits of the Lithuanian people amount to 21.5 billion euros <…> The state, by paying interest to these people, would return the money to domestic consumption rather than to foreign institutions.”
On October 24, the head of the Lithuanian Ministry of Defense Arvydas Anusauskas statedthat one of the options for increasing military spending could be to increase the income tax rate.
In July, the German Society for Foreign Policy (DGAP) reported that Germany was increasing its defense budget, but planned spending would not be enough to meet NATO’s defense spending standard of 2% of GDP. For Germany, achieving the 2% target is of fundamental importance after the NATO summit in Vilnius, but this will require resorting to tax increases.
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