Lithuania Introduces Temporary Solidarity Contribution on Banks

Lithuania has published Law No. XIV-1936 of 9 May 2023 in the Official Gazette, which entered into force on 16 May 2023 and provides for the introduction of a temporary solidarity contribution on banks. The temporary solidarity contribution is payable for 2023 and 2024 at a rate of 60% on net interest income to the extent exceeding the average net interest income in a prior four-year period, i…
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