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Lithuania to Join EU Financial-Transaction Tax, Butkevicius Says

Lithuania plans to join the group of European Union countries that’s establishing a financial- transaction tax, Prime Minister Algirdas Butkevicius said.

“Lithuania should become the 12th country to approve the financial-transaction tax and join the enhanced cooperation procedure, I hope, in January,” Butkevicius said today after a meeting in the capital, Vilnius, with EU Tax Commissioner Algirdas Semeta, his office said by e-mail.

The written statement was Butkevicius’s first since taking office yesterday. Semeta, a former Lithuanian finance minister, is a proponent of creating the tax for willing EU nations, which he says would make the EU common market stronger and fairer.

Eleven countries, including Germany, France and Italy have signed up to the tax, which will be drawn up by the European Commission.

To contact the reporter on this story: Bryan Bradley in Vilnius at bbradley13@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net

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