2022.01.19 16:56

Lithuanian president mulls tax cuts for firms affected by China sanctions

BNS2022.01.19 16:56

On Wednesday, Lithuanian President Gitanas Nausėda said he was ready to initiate support measures for firms affected by China’s sanctions.

"We talked about tax policy changes that would help businesses in the current situation: possible amendments to the corporate tax system," Nausėda told reporters, adding that his office "is ready to initiate such measures if necessary".

"We also talked about working capital replenishment possibilities and better use of the credit part of the EU's economic recovery fund to further the interests of our businesses," he said.

Nausėda spoke after hosting a discussion on the economy's resilience in the face of China's unofficial sanctions, which have come in the wake of deepening ties between Vilnius and Taipei.

Lithuania today must "learn the lessons of all this story", according to the president.

Read more: Lithuania 'concerned' about loosing investors due to China sanctions, says minister

"In the future, I do hope that [...] we will be able to reach a national agreement among parties on strategic foreign policy directions," he said.

Foreign Minister Gabrielius Landsbergis noted at the same news conference that efforts to de-escalate the situation require willingness from both sides in order to be successful.

"There are certain directions [...] that can be discussed with our colleagues in Beijing," the minister said. "We have conveyed certain considerations through the European institutions and directly."

"Today, the most escalatory actions are coming from China, and it is up to China to decide which way to go,” Landsbergis added.

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