Lithuania and Vietnam signed a letter of intent on 12 June 2025 to negotiate their first income tax treaty, which will take effect after finalisation and ratification.
Lithuania’s Ministry of Finance has announced that representatives from Lithuania and Vietnam met on 12 June 2025 and signed a letter of intent to begin work on a bilateral income tax treaty.
The intent of this agreement is to establish the rules for sharing income taxation rights, elimination of double taxation, and principles of tax cooperation, thus ensuring legal certainty regarding the taxation of income received by residents and companies of both nations.
If an agreement is reached, it will be the first income tax treaty between Lithuania and Vietnam. It must go through a process of negotiation, formal signing, and ratification in both jurisdictions before it can enter into force.
