Lithuania Moving Forward with Temporary Solidarity Contribution on Banks

Lithuania's Ministry of Finance has announced that the government has approved the draft law for the introduction of a temporary solidarity contribution on banks. As previously reported, the temporary solidarity contribution will 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%. Changes have been made in the approved version of the law as compared to the original draft. One…