On Jun. 18, LTH MoF said law approved to extend bank levy to 2025.
LTH MoF said Seimas approved extending temporary bank solidarity levy until 2025.
Follows LTH CB Mar. 2023 noted proposed banks' military contribution, see #166284.
One Year Extension
Need for this contribution arose from temporarily significant increases in bank profits.
Mainly driven by economic and geopolitical factors over last 2 years and the response.
Amendment to Temporary Solidarity Law (TLS) will apply only to the unexpected part of interest income of credit institutions which is not attributable to business decisions.
Temporary solidarity contribution will continue to finance development/renovation of airports, seaports necessary for military transport, installation of logistic/loading yards, development of roads of state significance near the Rudninkai training ground, the reconstruction of the main road near the Polish border, the renovation of bridges and overpasses, the construction of ramps and implement other necessary projects.
Nov. 2024 Order Issued
On Nov. 4, 2024, LTH PRL issued VA-85 amending VA-43 regarding the approval of the rules for filling out the temporary solidarity contribution declaration form, KIT713.
Document dated Nov. 4, 2024, was added on Dec. 17, 2024 due to editorial backfill.
States that provisions of Temporary Solidarity Contribution Declaration KIT713 apply to the calculation, declaration, payment of the provisional solidarity contribution for payment periods ending Dec. 31, 2023, Dec. 31, 2024, Dec. 31, 2025, respectively.
VA-85 then sets out the amendments made to rules for completing the KIT713 form.
The amendments made to VA-43 will enter into force on Jan. 1, 2025.
Regulators
LTH MoF; LTH PRL
Entity Types
Bank
Reference
OG 19045, Order VA-85, 11/4/2024; PR, 6/18/2024; Law XIV-1936; Order VA-43, 5/31/2023
