LFMI invited those wishing to commemorate the Tax Freedom Day in Lithuania to do that on the same day as last year – on May 23rd. There are two reasons behind our decision. First, government spending is incredibly immensely exceeding tax receipts. Second, the current economic situation is especially peculiar: the unemployment rate and the share of the shadow economy are skyrocketing, but there is no certainty whether these trends have been properly reflected in the official statistics.
