By Date

13-September-2018

English

Israel and Lithuania deposit their instruments of ratification for the Multilateral BEPS Convention

Israel and Lithuania have deposited their instruments of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (multilateral convention or MLI) with the OECD’s Secretary-General, Angel Gurría, therewith underlining their strong commitment to prevent the abuse of tax treaties and base erosion and profit shifting (BEPS) by multinational enterprises.

26-July-2018

English

Corporate Governance in Lithuania

This review of Corporate Governance in Lithuania was prepared in the context of Lithuania’s accession process to the OECD. It assesses Lithuania’s corporate governance arrangements – the laws, regulations and institutions that shape company oversight – for listed companies and state-owned enterprises (SOEs) against the standards of the G20/OECD Principles of Corporate Governance and the OECD Guidelines on Corporate Governance of State-Owned Enterprises. The report reaches a positive overall assessment of Lithuania’s willingness and ability to implement these corporate governance standards and makes a number of recommendations to address remaining weaknesses. With respect to listed companies, the report notably recommends that Lithuania give priority to monitoring implementation of recent legislative reforms to strengthen corporate boards of directors and, in the medium term, consider further strengthening and clarifying their legal responsibilities. With respect to SOEs, this report recommends that Lithuania give priority to further strengthening the effectiveness of the state’s ownership coordination function, ensuring that the state’s requirements on board composition and disclosure practices are fully implemented by the SOEs for which they are mandatory and moving forward with plans to convert commercially-oriented statutory SOEs to limited liability companies.

26-July-2018

English

OECD invites taxpayer input on sixth batch of Dispute Resolution peer reviews (BEPS Action 14)

The OECD is gathering input for the Stage 1 peer reviews of Argentina, Chile, Colombia, Croatia, India, Latvia, Lithuania and South Africa, and invites taxpayers to submit input on specific issues relating to access to MAP, clarity and availability of MAP guidance and the timely implementation of MAP agreements for each of these jurisdictions using the taxpayer input questionnaire.

12-July-2018

English

Lithuania: A fast-growing economy needs to boost inclusiveness

Lithuania is one of the fastest growing economies in the OECD. After a strong rebound in 2017, growth is set to average more than 3% over this year and the next led by buoyant investment.

5-July-2018

English

Lithuania's accession to the OECD

Lithuania has become the 36th country to join the OECD upon the deposit of its instrument of accession with the French Government, the depository of the Convention. Lithuania was invited by OECD countries to open negotiations for membership in April 2015.

5-July-2018

English

Reforms in Lithuania are reinforcing economic growth but boosting productivity is still a challenge

Lithuania’s economy has grown faster than most other OECD economies over the past 10 years, unemployment continues to fall and public finances have stabilised after a long period of deficits and rising debt.

5-July-2018

English

OECD Economic Surveys: Lithuania 2018

Since renewed independence in 1991 and transition from a centrally planned to a market economy, Lithuania has substantially raised well-being of its citizens. Thanks to a market-friendly environment the country grew faster than most OECD countries over the past ten years. The financial system is resilient, and fiscal positions stabilised after a long period of deficits and rising debt. Yet productivity has remained subdued due to stringent labour market regulations, informality and skills mismatch. Wage and income inequality are high, fuelling emigration. The population is ageing fast and declining, particularly because of emigration, putting pressure on the pension system. A wide-reaching labour market, unemployment benefits and pension reform entitled 'new social model' implemented in 2017 is expected to reinvigorate inclusive growth, strengthen the social safety net and underpin the sustainability of public finances. However, catch-up and more inclusive growth will require raising productivity that still remains well below the OECD average, and has slowed down recently. And rapid ageing and high emigration shrink the labour force by 1% every year, requiring a comprehensive approach to address the economic consequences.SPECIAL FEATURES: PRODUCTIVITY AND INCLUSIVENESS; AGEING TOGETHER

5-July-2018

English

Launch of the OECD 2018 Economic Survey of Lithuania

I am delighted to be in Vilnius today to present the 2018 Economic Survey of Lithuania. My thanks to Prime Minister Skvernelis for hosting today’s launch. This is a special time and a special publication.

5-July-2018

English

Economic Survey of Lithuania 2018

Since renewed independence in 1991 and transition from a centrally planned to a market economy, Lithuania has substantially raised well-being of its citizens. Thanks to a market-friendly environment the country grew faster than most OECD countries over the past ten years.

3-July-2018

English

Mr. Angel Gurría, Secretary-General of the OECD, in Vilnius, on 4-5 July 2018

Mr. Angel Gurría, Secretary-General of the OECD, will be in Vilnius, on 4-5 July 2018 on an official visit to Lithuania and to present the 2018 OECD Economic Survey of Lithuania.

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