Hotels in Lithuania want to be given choice of calculation

Hotels in Lithuania are joining forces to make it clear that the real estate tax burden has become too heavy for them now that VAT has increased and occupancy has dropped. Hoteliers want the power to choose whether the tax should be calculated from revenues or by using the mass valuation system, Verslo Zinios writes. They also want the value of the property to be revised each year, since real estate prices are falling. The proposal to calculate the tax by evaluating revenues is backed by larger hotels while smaller ones are sceptical about it.

 

Verslo Zinios, 2009-04-15