Why turn the whole of Lithuania into a closed joint-stock company?

Comments by Ms Rūta Vainienė, LFMI President, in the daily Lietuvos žinios. Increase of the tax burden on sole proprietorships has already started yielding results in the form of increasing numbers of sole proprietorships being turned into closed joint-stock companies. The process of turning the whole of Lithuania into a joint-stock company is likely to lead to harmful consequences such as cases of fraudulent bankruptcy or ”phoenixes“ rising from the ashes. The authorities then will seek to remedy the situation through new interventions. There will be no end to this process.  The only alternative is a possibility to have manifold forms of organising business – from simple to complex, from a business licence to a joint-stock company without turning the latter into the only form of business organisation.