EconomyThe European Commission has published the results of the 2024 European Innovation Scoreboard, which shows continued progress in Lithuania's innovation ecosystem. Over the period 2023-2024, Lithuania's progress is the highest in the European Union, with a growth rate of 3.7 percentage points compared to the EU average of 0.6%. Overall, Lithuania's innovation ecosystem has reached the highest level of development in its history, with a cumulative innovation index score of 92 points. Ministry of Transport and Communications' corporate return to state budget for 2023 reaches €261m2024-07-05, 16:37Companies and institutions managed by the Ministry of Transport and Communications of the Republic of Lithuania have contributed a considerable amount of taxes and dividends to the state budget: as much as €261 million last year. This year, more than €47 million in dividends alone have been paid for 2023, which is 3.3 times more than in 2022. Important news for businesses: as of 30 August, "E.sąskaita" (e-Account) will no longer be available and will be replaced by SABIS2024-07-04, 18:34From 1 July this year, the transition to SABIS, the Single Account Administration Information System, which will be used for sending and receiving electronic invoices from the public sector, businesses and other contracting organisations, begins. SABIS will replace the current "E.sąskaita" (e-Account) information system, which will cease to operate from 30 August. This will encourage companies to connect to the European e-invoicing infrastructure. A new era in the Lithuanian shipping industry: construction of the first hydrogen-electricity powered ship has begun2024-07-03, 16:32A new page in the history of the Lithuanian shipping industry has been written today. The construction of the first hydrogen-electric ship in the state’s history has officially begun at Western Baltija Shipbuilding (WBS) commissioned by the Klaipėda State Seaport Authority. This ship, designed for waste management, will become a symbol of Lithuania’s progress and its commitment to reducing environmental impact. At the same time, this project testifies to the ability to bring professionals with a high level of competencies together for the implementation of innovative projects. New requirements for large investment projects will come into force on 1 July, making it easier for companies to qualify as large investment projects. From the beginning of next year, it will be easier for online businesses to protect their rights against unfair online intermediary platforms and search engine providers. The Seimas today approved the changes initiated by the Ministry of the Economy and Innovation. The distribution of the tenth issue Government savings notes (GSN) ended on Monday, where residents purchased GSN for EUR 2.5 million and 282 transactions were made. Residents will be paid 3.1 per cent of annual interest on this new one-year GSN issue. The Defence Fund package, which will increase the national defence spending to 3% of gross domestic product (GDP) for the period 2025-2030, prepared by the Ministry of Finance was approved by the Seimas. According to Minister G. Skaistė, the package consists of four parts: the extension of the solidarity contribution, corporate income tax decisions, excise duty decisions, and the concept of the security contribution. An initiative by the Ministry of the Economy and Innovation will soon make it easier for online businesses to defend their rights against unfair online intermediary platforms and search engine providers. Lithuanian Airports (LTOU) is launching an international lease tender to select a duty-free shop operator for Vilnius and Kaunas airports. The selected partner is expected to start operations at Vilnius and Kaunas airports in 2025. LTOU representatives say that the tender is expected to attract the attention of international market players and applications are expected by the second half of September. |
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