Last week saw the signing in Lithuania of an Agreement on the Avoidance of Double Taxation between Malta and Lithuania. The treaty was signed by Malta's Minister of Foreign Affairs, Joe Borg, and his Lithuanian counterpart, H.E. Antanas Valionis.
Malta has entered into a considerable number of double tax treaties, unusually for a low tax jurisdiction. Generally speaking, the treaty benefits are available to all Maltese companies other than offshore companies.
During talks, the two Ministers exchanged views on the process of negotiations for accession to the European Union. Both countries are on the accession trail and they have agreed to step-up co-operation in view of enhancing the exchange of information in this area. The Ministers also explored the possibility of enhancing bilateral co-operation between Malta and Lithuania in the areas of trade, commerce, culture and tourism.
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