Ministry of Finance proposes denunciation of double taxation agreement with Belarus
Today, the Government approved the draft law prepared by the Ministry of Finance, which proposes to denounce the agreement between Lithuania and Belarus on the avoidance of double taxation of income and fiscal violations, concluded before the start of russia's large-scale military aggression against Ukraine.
"Taking into account the continuing complicity of Belarus with russia, the military aggression against Ukraine, and the gross violation of international law, as well as the fact that the Seimas has already denounced a similar agreement with russia, it is proposed to denounce the agreement with Belarus", Vice Minister of Finance R. Bilkštytė states.
For several years now, Lithuania has basically not carried out any cooperation with Belarus and information for tax purposes has not changed, having evaluated the report of the Economic and Financial Affairs Council to the European Council on tax issues approved in 2022. The report noted that the actions of russia and Belarus have had extremely negative consequences for cooperation with these countries in the field of environmental taxation under multilateral and bilateral instruments of international law.
According to the agreement with Belarus, each contracting party may terminate this agreement by giving a written notice through diplomatic channels to the other party at least 6 months before the end of any calendar year. For example, if the party was informed about the termination of the agreement by 30 June 2025, the provisions of the agreement would no longer apply from 1 January 2026.
Last updated: 18-11-2024
Related news:
Giraitės ginkluotės gamykla AB expands its supply with anti-drone cartridges
Creditor protection in insolvency proceedings will increase next year
ECOFIN meeting – Debate on protecting European businesses and farmers
Defence bonds were distributed for EUR 85.6 million across recent issues