BAKU, Azerbaijan, June 13. On Thursday, Lithuania’s Vice-Minister of Finance Januš Kizenevič signed a Letter of Intent on a Double Taxation Treaty with Vietnamese officials, taking a key step toward closer economic cooperation between the two countries, Trend reports with reference to the Ministry of Finance of the Republic of Lithuania.
The agreement set the stage for clarifying taxation rights on income, putting an end to double taxation, and bolstering collaboration on tax issues. It is designed to offer legal clarity and predictability for individuals and companies from Lithuania and Vietnam operating across borders.
“We needed to make it easier for businesses to enter new markets and avoid excessive costs and bureaucratic hurdles—especially in the early stages of setting up and growing operations in Vietnam,” said Vice-Minister Kizenevič. “In today’s dynamic and uncertain geopolitical climate, discovering new markets is more important than ever.”
Kizenevič visited Vietnam as part of the official Lithuanian delegation led by the President of the Republic of Lithuania. During the visit, the delegation met with Vietnamese President Luong Cuong and took part in a panel discussion focused on innovation and digitalization.
The Letter of Intent marks an important step toward a full Double Taxation Agreement and signals Lithuania’s broader commitment to expanding its economic presence in Southeast Asia.