NATO country hiking taxes to boost defense spending

Lithuania is seeking to generate additional revenue to meet its target of 3% of GDP in military outlays, the finance minister says

NATO member Lithuania plans to raise taxes on companies, fuel, and alcohol as part of a package of measures to raise additional funds for defense next year, Finance Minister Gintare Skaiste told reporters on Tuesday.

The proposed steps include hiking the corporate tax rate to 16% from 15%, and raising the excise tax on alcohol, tobacco, and fuel.