NATO country hiking taxes to boost defense spending ...News

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NATO country hiking taxes to boost defense spending
Lithuania is seeking to generate additional revenue to meet its target of 3% of GDP in military outlays, the finance minister says NATO member Lithuania plans to raise taxes on companies, fuel, and alcohol as part of a package of measures to raise additional funds for defense next year, Finance Minister Gintare Skaiste told reporters on Tuesday. The proposed steps include hiking the corporate tax rate to 16% from 15%, and raising the excise tax on alcohol, tobacco, and fuel. The package also calls for raising the reduced corporate tax rate for small-sized businesses by 1% to 6%, and scrapping the special corporate

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