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The Lithuanian business environment

Lithuania is one of the economic leaders among the post-Soviet countries. The private sector produces more than 80 percent of GDP. A currency board arrangement, changed in February 2002 from dollar into euro pegging, has been in place since 1994.

The tax legislation has been simplified in 2001. Lithuania has a flat income tax rate of 33 percent. (income earned from a secondary job is taxed progressively from 10 percent to 35 percent.) The top corporate tax rate is 15 percent.

2004 Index of Economic Freedom

Rank Score Trade Policy Fiscal Burden Government Intervention Monetary Policy
22 2.19 2 2.4 2.5 1

Foreign Investment Banking and Finance Wages and Prices Property Rights Regulation Informal Market
2 1 2 3 3 3.5

Source: Heritage Foundation, 2004

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