VILNIUS, Nov. 20 (Xinhua) -- Lithuanian President Gitanas Nauseda warned on Wednesday that he will not sign the country's budget law if it contradicts constitutional provisions on fiscal discipline.
"One red line is very obvious. If it is contrary to our constitutional law on fiscal discipline, I would not be able to sign it," Nauseda said to local media.
Nauseda was asked questions on budget while visiting Pabrade military base.
The president mentioned that the process of debates on the new tax laws in the Lithuanian parliament is "chaotic" and criticized the tax changing initiatives without a longer transition period.
"I really see a problem if the taxes are introduced nearly as of the next day. There is a lot of chaos, yet it will have to end in the coming weeks as we have to adopt the budget. When it comes to the final frame, the final draft, then we can talk again," Nauseda said.
As reported, the Lithuanian government has in principle approved the proposal to tax the assets of banks and credit unions, alongside with the trade tax on major retail chains proposal.
In the beginning of November, Lithuania's main business organizations addressed the government, urging not to introduce new taxes without a proper debate period.
