Republic of Lithuania: Technical Assistance Report-Improvement of High Wealth Individuals Control Function– Project Report

International Monetary Fund

No 2023/174, IMF Staff Country Reports from International Monetary Fund

Abstract: This technical assistance report on the Republic of Lithuania highlights improvement of high wealth individuals (HWI) control function. The purpose of this report is to provide an assessment of the development of the State Tax Inspectorate (STI) HWI Compliance Strategy and progress in executing the implementation plan tasks, as well as Fiscal Affairs Department (FAD) recommendations for the future success of the HWI compliance program. The report first focuses on key components of fully developed HWI compliance strategies currently in place in a number of tax administrations. It then include FAD’s findings, and early recommendations to the STI for consideration in the implementation of their strategy. It identifies the achievements and progress made by the STI in implementing their HWI Compliance Strategy including the tasks in their implementation plan. The paper also sets out additional FAD recommendations to assist the STI in reaching a fully developed level in the management of their HWI segment. It will be important to consider the additional downstream costs that will result from the new and increased workload of the HWI program.

Keywords: High-Wealth Individuals; Tax Administration; Lithuania; Compliance Strategy; IMF's Fiscal Affairs Department; Project report; HWI program; identification process; HWI segment; HWI threshold; tax risk; HWI strategy; taxpayer population; High Net Wealth Individuals; Tax administration core functions; Global (search for similar items in EconPapers)
Pages: 24
Date: 2023-05-23
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