The Unicorns Lithuania association reported that the tax contributions recorded for the latest quarter represent the highest amount paid to date, marking a 38% increase compared to the same period last year. The financial data revealed that several major companies contributed significantly to the national revenue. Revolut was the largest contributor, reporting a tax payment of 56.6 million euros.
This was followed by Vinted, which paid 22.7 million euros. Other key corporate contributors included Nord Security, with 9.1 million euros, Oxylabs at 7.3 million euros, and the Baltic Classifieds Group, contributing 6.4 million euros. The association noted that the operational model of the startup sector in Lithuania is distinct, as a substantial portion of its revenue is generated in international markets.
These international funds are then reinvested locally into wages, tax payments, and further development within Lithuania. According to a statement issued by Gintarė Verbickaitė, head of Unicorns Lithuania, the significant rise in tax payments to the national budget indicates the rapid expansion and growing economic value generated by this technology sector for the country. The reported figures underscore the increasing financial footprint of the high-growth companies operating within the Lithuanian economy.
Topics: #million #euros #lithuanian
