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Thursday, 21.11.2024, 17:20
Taxes for amber extraction in Lithuania may be increased by up to 44 times
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The Law on Taxes on State Natural Resources stipulates that every kilogramme of extracted amber is taxed by EUR 20.22. The Ministry of Environment has proposed to increase the tax to EUR 280 per kilogramme if pieces of amber are smaller than 40 millimetres, and to apply EUR 900 tax rate when they are larger than 40 millimetres.
Based on preliminary estimates, there are approximately 112 tonnes of amber in Juodkrante deposit. If the newly proposed taxes are applied, 20 years of exploitation of the deposit would bring EUR 41 million in revenue. 70% of the amount would be transferred to the state budget, 20% would be left to the local municipality and 10% would go to the Environmental Protection Support Programme.
After the geopolitical situation shifted, Lithuanian businesspeople are no longer issued licences to import raw amber from Russia's Kaliningrad Region, which is a source of 95% of the world's known amber resources.
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