Business Reforms in Lithuania

Positive= Doing Business reform making it easier to do business. Negative= Doing Business reform making it more difficult to do business.

DB2012:

Positive Protecting Investors:

Lithuania strengthened investor protections by introducing greater requirements for corporate disclosure to the public and in the annual report.


Positive Resolving Insolvency:

Lithuania amended its reorganization law to simplify and shorten reorganization proceedings, grant priority to secured creditors and introduce professional requirements for insolvency administrators.


Negative Getting Electricity:

Lithuania made getting electricity more difficult by abolishing the one-stop shop for obtaining technical conditions for utility services.


DB2011:

Positive Starting a Business:

Lithuania tightened the time limit for completing the registration of a company.


Positive Getting Credit:

Lithuania’s private credit bureau now collects and distributes positive information on borrowers.


Positive Paying Taxes:

Lithuania reduced corporate tax rates.


Positive Trading Across Borders:

Lithuania reduced the time to import by introducing, in compliance with EU law, an electronic system for submitting customs declarations.


Positive Resolving Insolvency:

Lithuania introduced regulations relating to insolvency administrators that set out clear rules of liability for violations of law.


DB2010:

Negative Paying Taxes:

The corporate income tax was raised from 15 percent to 20 percent.


Positive Resolving Insolvency:

The process of closing a business was eased through amendments to the enterprise bankruptcy law.


DB2009:

Positive Registering Property:

Registering property was made easier by merging the procedure for obtaining the certificate of transaction with the notarization procedure. The reform reduced the number of procedures.


Reform Summaries


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