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In Lithuania they plan to introduce a new tax on housing

02.05.18
The information on the new tax reform, submitted by the authorities of Lithuania , is published. It is a question of imposing a tax on the second real estate owned by one and the same individual. According to the authorities, a progressive tax rate will be set at 0.3% of the value of the facility.
According to Finance Minister Vilyus Shapoka, the main purpose of introducing a new tax is to prevent the formation of a bubble on the country's housing market. At the same time, many experts believe that the main goal of tax administration is to increase financial injections into the budget.
It is worth noting that a significant number of Lithuanian residents are buying second residential property as an investment. Renting such a house for rent, they have additional income, and for some, such a business brings the main profit. So, with the introduction of a new tax, one should expect a rise in prices in the rental market for residential real estate.
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