The Lithuanian government on Wednesday passed a draft law on avoiding double taxation and preventing tax evasion with Taiwan, the Lithuanian Ministry of Finance said.
In August, the Lithuanian Trade Representative Office in Taipei and the Taiwan Representative Office in Lithuania signed an agreement to avoid double taxation on income and capital gains between the two countries.
The agreement is intended to ensure a fairer tax system and improve the competitiveness of bilateral trade between the two countries on the international market.
Photo: I-Hwa Cheng, AFP
The agreement is in line with the government’s goal of strengthening cooperation with Taiwan and proposing solutions that would give Lithuanian companies opportunities to expand, outgoing Lithuanian Minister of Finance Gintare Skaiste said.
The decision to exempt Lithuanian businesses from double taxation would promote broader bilateral cooperation and allow them to realize their ambitious goals, Skaiste said, adding that she hoped the next government would continue the policy.
Lithuania has signed double taxation agreements with 58 countries, including Taiwan.
Separately, Lithuanian Minister of National Defense Dovile Sakaliene on Wednesday said that the US shouldering the large proportion of Western defense spending is unfair to Washington and that Europe needs to step up and bolster its defense industries to deter Russia and China.
The pragmatic argument for the US to stay involved in Europe is that it needs European support in its confrontation with China, and if Europe “is hurt by Russia,” that would lead to bad consequences for the US, Sakaliene said in an interview with Reuters in New York.
“I’m very realistic, and I understand that Europe is not even in the top three of the priorities of the United States. Priority No. 1 is the United States. And then it’s Taiwan, and then it’s Israel, and then Europe,” she said. “The war in Taiwan is coming, I think it’s clear to all of us.”
Additional reporting by Reuters
Beijing could eventually see a full amphibious invasion of Taiwan as the only "prudent" way to bring about unification, the US Department of Defense said in a newly released annual report to Congress. The Pentagon's "Annual Report to Congress: Military and Security Developments Involving the People's Republic of China 2025," was in many ways similar to last year’s report but reorganized the analysis of the options China has to take over Taiwan. Generally, according to the report, Chinese leaders view the People's Liberation Army's (PLA) capabilities for a Taiwan campaign as improving, but they remain uncertain about its readiness to successfully seize
Taiwan is getting a day off on Christmas for the first time in 25 years. The change comes after opposition parties passed a law earlier this year to add or restore five public holidays, including Constitution Day, which falls on today, Dec. 25. The day marks the 1947 adoption of the constitution of the Republic of China, as the government in Taipei is formally known. Back then the Chinese Nationalist Party (KMT) governed China from Nanjing. When the KMT, now an opposition party in Taiwan, passed the legislation on holidays, it said that they would help “commemorate the history of national development.” That
Taiwan has overtaken South Korea this year in per capita income for the first time in 23 years, IMF data showed. Per capita income is a nation’s GDP divided by the total population, used to compare average wealth levels across countries. Taiwan also beat Japan this year on per capita income, after surpassing it for the first time last year, US magazine Newsweek reported yesterday. Across Asia, Taiwan ranked fourth for per capita income at US$37,827 this year due to sustained economic growth, the report said. In the top three spots were Singapore, Macau and Hong Kong, it said. South
Snow fell on Yushan (Jade Mountain, 玉山) yesterday morning as a continental cold air mass sent temperatures below freezing on Taiwan’s tallest peak, the Central Weather Administration (CWA) said. Snowflakes were seen on Yushan’s north peak from 6:28am to 6:38am, but they did not fully cover the ground and no accumulation was recorded, the CWA said. As of 7:42am, the lowest temperature recorded across Taiwan was minus-5.5°C at Yushan’s Fengkou observatory and minus-4.7°C at the Yushan observatory, CWA data showed. On Hehuanshan (合歡山) in Nantou County, a low of 1.3°C was recorded at 6:39pm, when ice pellets fell at Songsyue Lodge (松雪樓), a
RSS