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Tax break proposed in Lithuania for businesses buying electric cars

Staff Writer |
A profit tax break might apply to companies in Lithuania which buy electric cars as of next year, reported LETA/BNS.

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Initiating the proposal, the Economy Ministry says the tax break would make Lithuania more attractive to foreign investors and would promote companies to upgrade their car fleets and choose more effectives and less polluting vehicles.

The proposed corporate tax break involving the purchase of electric cars is now under discussion with all interested parties. Such amendments would need approval by the Cabinet and parliament.

The proposed amendments say the taxable profit might be reduced by up to 300,000 euros a year for businesses purchasing cargo vehicles, trailers and semi-trailers.

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