A special Lithuanian governmental commission gave the same verdict that Revolut’s activities did not run counter to the country’s national interests after completing its third review of the UK-based fintech start-up. The commission that vets transactions by strategic enterprises took the decision on June 25. Revolut Bank plans to start operating as a specialized bank…
Lithuania’s government in principle backed plans to make intermediaries declare cars’ sale-purchase agreements as early as next year and to also introduce centralized systems of car owners and marketplaces. The government-approved document sets the goal to reduce shadow economy in the construction sector as well as in the areas of sale of cars and their…
Freight volume handled at the Port of Klaipeda in January-May grew by 8.5% YoY, to 19.77 million tons, the Port Authority statistics said. In the reporting period, transshipment of general cargo grew by 13.3%, to 6.9 million tons, while liquid bulk cargo dropped by 6.9%, to 4.13 million tons, and dry bulk cargo – by…
A German-capital road infrastructure company, Saferoad Baltic, has been established in Lithuania. Saferoad Baltic is led by Marcin Baginski, according to the Lithuanian Center of Registers. Its authorized capital amounts to 500,000 euros. Saferoad Baltic’s sole shareholder is the company’s Polish branch Saferoad RRS Polska. According to Saferoad’s website, the company provides safe transport infrastructure…
An agreement has been reached in a court of justice in Lithuania with Latvian airline airBaltic on payment of compensation to passengers worth a total of EUR 120,000, according to representatives of flight compensation assistance company Skycop. Last year, Skycop commenced more than 200 litigations against airBaltic over the airline’s unpaid compensation to passengers. Following…
In a change of anti-money laundering tactics, Lithuania’s authorities open pre-trial investigations even if there are only suspicions about the origin of money, Mindaugas Petrauskas, deputy director of the Financial Crime Investigation Service (FNNT), said. According to him, the state received 4 million euros in extra revenue last year, even though the investigations were discontinued.…
The value added tax will remain 21% in Lithuania after the country’s parliament on May 9 rejected the liberals’ initiative to cut it to 18% from 2020, a level that was before the 2009 crisis. 22 lawmakers voted in favor of the parliament starting deliberation of the proposed amendments to the Law on Value Added…