News
Online portal vz.lt has published the article „The Convention will dismantle a majority of tax-evasion schemes“ with the comment of lawyer Lukas Vitauskas.
In Paris, the Lithuanian Minister of Foreign Affairs Mr. Linas Linkevičius, together with the representatives from 75 countries, has signed a Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Sharing, which will make transferring profit from one country to another in order to avoid double-taxation much more difficult.
Lawyer of LEADELL Balčiūnas & Grajauskas law office Lukas Vitauskas offers his insights about the Convention and what it means to businesses.
According to Mr. Vitauskas, the new Convention takes on most of the notions of the BEPS (Base Erosion Profit Shifting) project, started in 2015 by the OECD and G20.
“The new regulations on the registration of permanent place of business will more clearly define the term “permanent place of business” and its exemptions, which will in turn reduce the number of related disputes between the tax-payer and the tax administrator.”, says Mr. Vitauskas.
The full article in Lithuanian can be found here.
Subscribe to Leadell's Newsletter
