Lithuania Considering Windfall Tax on Banking Sector

The Bank of Lithuania (central bank) has issued a release announcing a potential windfall tax on the banking sector.

---

In exceptional circumstances, the Bank of Lithuania puts forward proposals for promoting competition and choice and for banks' profits

Lithuania's banking sector is faced with exceptional circumstances: due to particularly high liquidity and predominance of floating-rate loan portfolio of banks, the increased interest rates have been passed on to borrowers very quickly…