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Lithuania Introducing Temporary Solidarity Contribution on Banks

|Proposed Changes|Lithuania
Lithuania

Lithuania's Ministry of Finance has issued a release announcing that a draft law has been prepared for the introduction of a temporary solidarity contribution on banks. According to the release, the temporary solidarity contribution would be payable for 2023 and 2024 at a rate of 60% on net interest income to the extent exceeding the average net interest income in the previous four years increased by 50%. The solidarity contribution will only apply to banks (institutions) where the amount of…

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