Lithuania Considering Tax Exemption for Reinvested Profits
The Lithuanian parliament (Seimas) is considering draft law XIVP-1295, containing amendments to the Corporate Income Tax Law for the introduction of a tax exemption on reinvested profits. In particular, the draft law provides that income from distributed profits shall be taxed at the rate of 15% (same as the current rate), while a 0% rate will apply on profits used for investment in:
- Renewabl…