Below is the list of the most important amendments:
1) New business entities may apply 0 % CIT on the first year of activity if the requirements are met.
2) 5% CIT rate is applied to profits earned from the use, sale or other transfer of assets created while executing scientific research and experimental development activity.
3) Only 50% of the representation expenses are deductible  (last year it was 75%).
4) Taxable profits may be reduced by the investment project expenses by up to 100% (before 50%).
5) The list of activities which entities may execute in free economic zones and be entitled to use CIT incentives is abolished.

For more detailed information about the CIT changes, please read the full article on our Lithuanian webpage: